Is 02905, 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, 02905 has remained a Seller's Market.
Key Takeaway
02905 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02905, RI
How much do homes in 02905, RI cost?
Median Sold Price
$375,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 02905 have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in 02905 was $375,000 in March 2024, up 1.4% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $274.9K | - | N/A |
| 2 Bedrooms | $308.7K | $322K | +4.3% |
| 3 Bedrooms | $335K | $350K | +4.5% |
| 4 Bedrooms | $346K | $380.5K | +10.0% |
| 5+ Bedrooms | $460K | $500K | +8.7% |
Summary: 02905 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 8.7%.
Housing Supply in 02905, RI
How many homes are available in 02905, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 39 | -22.0% |
Summary: The 02905 real estate market had 39 homes for sale in March 2024, a 22.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 24 | 12 | -50.0% |
Summary: The 02905 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02905, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 02905 in March 2024, up by 7.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 21% were sold at asking, and 57% were sold over asking.
Days on Market for 02905, RI
How long does it take to sell a home in 02905, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 26 Days | 16 Days | -36.8% |
Summary: Homes in 02905 had an average of 16 days on market in Mar 2024, down by 36.8% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02905 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 14 homes were sold in 02905; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
