Is 02907, 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, 02907 has remained a Seller's Market.
Housing Prices in 02907, RI
How much do homes in 02907, RI cost?
Median Sold Price
$395,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 02907 was $395,000 in March 2024, down 0.2% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $192.4K | +16.6% |
2 Bedrooms | $225K | $260K | +15.6% |
3 Bedrooms | $290K | $345K | +19.0% |
4 Bedrooms | $350K | $361K | +3.1% |
5+ Bedrooms | $465K | $521.2K | +12.1% |
Summary: 02907 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 12.1%.
Housing Supply in 02907, RI
How many homes are available in 02907, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 41 | -12.8% |
Summary: The 02907 real estate market had 41 homes for sale in March 2024, a 12.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 9 | 6 | -33.3% |
4 Bedrooms | 14 | 11 | -21.4% |
5+ Bedrooms | 20 | 20 | 0.0% |
Summary: The 02907 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 11 | -21.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 02907 in March 2024, down by 21.4% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.
Days on Market for 02907, RI
How long does it take to sell a home in 02907, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
59 Days | 24 Days | -58.9% |
Summary: Homes in 02907 had an average of 24 days on market in Mar 2024, down by 58.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 02907; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.