Is 02893, 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, 02893 has remained a Seller's Market.
Key Takeaway
02893 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02893, RI
How much do homes in 02893, RI cost?
Median Sold Price
$351,000
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02893 have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in 02893 was $351,000 in March 2024, up 6.4% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $166.5K | +18.9% |
| 2 Bedrooms | $269.9K | $310K | +14.8% |
| 3 Bedrooms | $345K | $369.9K | +7.2% |
| 4 Bedrooms | $335K | $385K | +14.9% |
| 5+ Bedrooms | $378K | $438.5K | +16.0% |
Summary: 02893 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 16%.
Housing Supply in 02893, RI
How many homes are available in 02893, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 81 | 76 | -6.2% |
Summary: The 02893 real estate market had 76 homes for sale in March 2024, a 6.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 23 | 23 | 0.0% |
| 3 Bedrooms | 27 | 25 | -7.4% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The 02893 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 remained the same, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02893, you could pay more than the asking price. 61.9% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 02893 in March 2024, up by 5.0% month-over-month. Of the 21 sold homes, 33% were sold under asking, 5% were sold at asking, and 62% were sold over asking.
Days on Market for 02893, RI
How long does it take to sell a home in 02893, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 37 Days | +43.7% |
Summary: Homes in 02893 had an average of 37 days on market in Mar 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02893 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in 02893; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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