Is 02896, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 02896 has remained a Seller's Market.
Key Takeaway
02896 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02896, RI
How much do homes in 02896, RI cost?
Median Sold Price
$434,900
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in 02896 has remained the same since last year.
Summary: The median home sold price in 02896 was $434,900 in April 2024, up 0.1% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $392.5K | N/A |
| 2 Bedrooms | $385K | $427.4K | +11.0% |
| 3 Bedrooms | $425K | $435K | +2.4% |
| 4 Bedrooms | $492.5K | $452K | -8.2% |
| 5+ Bedrooms | $446.5K | $500K | +12.0% |
Summary: 02896 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 8.2%, and 5+ bedroom homes increased by 12%.
Housing Supply in 02896, RI
How many homes are available in 02896, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 26 | +18.2% |
Summary: The 02896 real estate market had 26 homes for sale in April 2024, a 18.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 02896 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 02896, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 02896 in April 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for 02896, RI
How long does it take to sell a home in 02896, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 53 Days | 16 Days | -69.3% |
Summary: Homes in 02896 had an average of 16 days on market in Apr 2024, down by 69.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02896 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in 02896; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
