Is 02908, 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, 02908 has remained a Seller's Market.
Key Takeaway
02908 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02908, RI
How much do homes in 02908, RI cost?
Median Sold Price
$417,475
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 02908 have sold for 16% more than they did a year ago.
Summary: The median home sold price in 02908 was $417,475 in April 2024, up 16% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $224.5K | $179.5K | -20.0% |
| 2 Bedrooms | $301.2K | $327.5K | +8.7% |
| 3 Bedrooms | $324K | $382.5K | +18.1% |
| 4 Bedrooms | $365K | $420K | +15.1% |
| 5+ Bedrooms | $445K | $541K | +21.6% |
Summary: 02908 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 21.6%.
Housing Supply in 02908, RI
How many homes are available in 02908, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 70 | -1.4% |
Summary: The 02908 real estate market had 70 homes for sale in April 2024, a 1.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 8 | +166.7% |
| 3 Bedrooms | 26 | 21 | -19.2% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 26 | 27 | +3.8% |
Summary: The 02908 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 166.7%, 3 bedroom homes decreased by 19.2%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 3.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02908, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in 02908 in April 2024, up by 20.0% month-over-month. Of the 24 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 02908, RI
How long does it take to sell a home in 02908, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 22 Days | +32.1% |
Summary: Homes in 02908 had an average of 22 days on market in Apr 2024, up by 32.1% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 02908 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in 02908; 71% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
