Is 02889, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 02889 has remained a Seller's Market.
Housing Prices in 02889, RI
How much do homes in 02889, RI cost?
Median Sold Price
$364,625
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 02889 was $364,625 in March 2024, up 10.5% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $237.5K | +35.7% |
2 Bedrooms | $292.4K | $310K | +6.0% |
3 Bedrooms | $344.5K | $375K | +8.9% |
4 Bedrooms | $395K | $425K | +7.6% |
5+ Bedrooms | $470K | $450K | -4.3% |
Summary: 02889 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.7%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 4.3%.
Housing Supply in 02889, RI
How many homes are available in 02889, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
81 | 84 | +3.7% |
Summary: The 02889 real estate market had 84 homes for sale in March 2024, a 3.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 23 | 18 | -21.7% |
3 Bedrooms | 41 | 47 | +14.6% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 02889 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 21.7%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 29 | +20.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 02889 in March 2024, up by 20.8% month-over-month. Of the 29 sold homes, 28% were sold under asking, 7% were sold at asking, and 66% were sold over asking.
Days on Market for 02889, RI
How long does it take to sell a home in 02889, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 26 Days | -18.4% |
Summary: Homes in 02889 had an average of 26 days on market in Mar 2024, down by 18.4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in 02889; 66% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.