Is 02904, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, 02904 has remained a Seller's Market.
Key Takeaway
02904 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02904, RI
How much do homes in 02904, RI cost?
Median Sold Price
$370,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in 02904 have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in 02904 was $370,000 in June 2024, up 13.7% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $168.7K | +5.5% |
| 2 Bedrooms | $269K | $320K | +19.0% |
| 3 Bedrooms | $350K | $395K | +12.9% |
| 4 Bedrooms | $400K | $464.1K | +16.0% |
| 5+ Bedrooms | $427K | $510K | +19.4% |
Summary: 02904 housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 19.4%.
Housing Supply in 02904, RI
How many homes are available in 02904, RI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 121 | 114 | -5.8% |
Summary: The 02904 real estate market had 114 homes for sale in June 2024, a 5.8% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 18 | -5.3% |
| 2 Bedrooms | 31 | 32 | +3.2% |
| 3 Bedrooms | 38 | 36 | -5.3% |
| 4 Bedrooms | 19 | 15 | -21.1% |
| 5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The 02904 housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.3%, 2 bedroom homes increased by 3.2%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 34 | 29 | -14.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02904, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in 02904 in June 2024, down by 14.7% month-over-month. Of the 29 sold homes, 34% were sold under asking, 10% were sold at asking, and 55% were sold over asking.
Days on Market for 02904, RI
How long does it take to sell a home in 02904, RI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 25 Days | 27 Days | +7.7% |
Summary: Homes in 02904 had an average of 27 days on market in Jun 2024, up by 7.7% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 02904 are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 29 homes were sold in 02904; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
