Is 02903, 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, 02903 has remained a Seller's Market.
Key Takeaway
02903 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02903, RI
How much do homes in 02903, RI cost?
Median Sold Price
$505,000
$455/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02903 have sold for 20.4% more than they did a year ago.
Summary: The median home sold price in 02903 was $505,000 in March 2024, up 20.4% from last year, and the median price per square foot was $455.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $289K | $330K | +14.2% |
| 2 Bedrooms | $502.5K | $564K | +12.2% |
| 3 Bedrooms | $630K | $463.5K | -26.4% |
| 4 Bedrooms | $658.3K | $450K | -31.6% |
| 5+ Bedrooms | $697.5K | $699K | 0.2% |
Summary: 02903 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.2%, 2 bedroom homes increased by 12.2%, 3 bedroom homes decreased by 26.4%, 4 bedroom homes decreased by 31.6%, and 5+ bedroom homes increased by 0.2%.
Housing Supply in 02903, RI
How many homes are available in 02903, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 31 | +19.2% |
Summary: The 02903 real estate market had 31 homes for sale in March 2024, a 19.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 12 | +9.1% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 02903 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 37.5%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02903, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in 02903 in March 2024, up by 33.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% were sold over asking.
Days on Market for 02903, RI
How long does it take to sell a home in 02903, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 21 Days | -40.1% |
Summary: Homes in 02903 had an average of 21 days on market in Mar 2024, down by 40.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02903 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 02903; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
