Is 02906, 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, 02906 has remained a Seller's Market.
Key Takeaway
02906 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02906, RI
How much do homes in 02906, RI cost?
Median Sold Price
$780,000
$373/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02906 have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in 02906 was $780,000 in April 2024, up 16.4% from last year, and the median price per square foot was $373.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $272.5K | $269K | -1.3% |
| 2 Bedrooms | $385K | $495K | +28.6% |
| 3 Bedrooms | $675K | $755K | +11.9% |
| 4 Bedrooms | $810K | $910K | +12.3% |
| 5+ Bedrooms | $830K | $915K | +10.2% |
Summary: 02906 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 10.2%.
Housing Supply in 02906, RI
How many homes are available in 02906, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 97 | +34.7% |
Summary: The 02906 real estate market had 97 homes for sale in April 2024, a 34.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 8 | +60.0% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 15 | 26 | +73.3% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 25 | 35 | +40.0% |
Summary: The 02906 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 73.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 22 | +83.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02906, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 02906 in April 2024, up by 83.3% month-over-month. Of the 22 sold homes, 32% were sold under asking, 18% were sold at asking, and 50% were sold over asking.
Days on Market for 02906, RI
How long does it take to sell a home in 02906, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 25 Days | -31.4% |
Summary: Homes in 02906 had an average of 25 days on market in Apr 2024, down by 31.4% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 02906 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in 02906; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
