Is 02891, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 02891 has remained a Neutral Market.
Housing Prices in 02891, RI
How much do homes in 02891, RI cost?
Median Sold Price
$465,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 02891 was $465,000 in February 2024, up 5.7% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $184K | $358.8K | +95.0% |
2 Bedrooms | $360K | $399.9K | +11.1% |
3 Bedrooms | $452.5K | $489.5K | +8.2% |
4 Bedrooms | $637.5K | $600K | -5.9% |
5+ Bedrooms | $413K | $560.5K | +35.7% |
Summary: 02891 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 95%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 35.7%.
Housing Supply in 02891, RI
How many homes are available in 02891, RI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
70 | 70 | 0.0% |
Summary: The 02891 real estate market had 70 homes for sale in February 2024, the same as January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 14 | 17 | +21.4% |
3 Bedrooms | 30 | 28 | -6.7% |
4 Bedrooms | 12 | 14 | +16.7% |
5+ Bedrooms | 11 | 6 | -45.5% |
Summary: The 02891 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 21.4%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 45.5%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
19 | 11 | -42.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 02891 in February 2024, down by 42.1% month-over-month. Of the 11 sold homes, 55% were sold under asking, 36% were sold at asking, and 9% were sold over asking.
Days on Market for 02891, RI
How long does it take to sell a home in 02891, RI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
23 Days | 43 Days | +82.6% |
Summary: Homes in 02891 had an average of 43 days on market in Feb 2024, up by 82.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 11 homes were sold in 02891; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.