Is Central Falls, 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, Central Falls has remained a Seller's Market.
Key Takeaway
Central Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Central Falls, RI
How much do homes in Central Falls, RI cost?
Median Sold Price
$460,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Central Falls have sold for 21.9% more than they did a year ago.
Summary: The median home sold price in Central Falls was $460,000 in March 2024, up 21.9% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $254.5K | $325K | +27.7% |
| 2 Bedrooms | $269.9K | - | N/A |
| 3 Bedrooms | $280K | $350K | +25.0% |
| 4 Bedrooms | $317K | $370K | +16.7% |
| 5+ Bedrooms | $450K | $502K | +11.6% |
Summary: Central Falls housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
| Central Falls | $377.5K | $460K | +21.9% |
| Lincoln | $425K | $465.5K | +9.5% |
| Cumberland | $424.6K | $460K | +8.3% |
| Pawtucket | $355K | $376.3K | +6.0% |
| Attleboro | $448.1K | $470.8K | +5.1% |
Housing Supply in Central Falls, RI
How many homes are available in Central Falls, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 22 | 0.0% |
Summary: The Central Falls real estate market had 22 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 18 | 16 | -11.1% |
Summary: The Central Falls 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Falls, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Central Falls in March 2024, up by 75.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Central Falls, RI
How long does it take to sell a home in Central Falls, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 8 Days | -81.3% |
Summary: Homes in Central Falls had an average of 8 days on market in Mar 2024, down by 81.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Falls are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Central Falls; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
