Is Chepachet, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Chepachet was a Buyer's Market.
Key Takeaway
Chepachet is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chepachet, RI
How much do homes in Chepachet, RI cost?
Median Sold Price
$399,900
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chepachet have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Chepachet was $399,900 in March 2024, up 3.9% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $218.5K | -2.9% |
| 2 Bedrooms | $313.5K | $332.5K | +6.1% |
| 3 Bedrooms | $441.2K | $436.2K | -1.1% |
| 4 Bedrooms | $465.5K | $450K | -3.3% |
| 5+ Bedrooms | $285K | $504.5K | +77.0% |
Summary: Chepachet housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 77%.
Median Sold Price Compared To Nearby Cities
| Glocester | $390K | $428.7K | +9.9% |
| North Scituate | $422.5K | $452K | +7.0% |
| Chepachet | $385K | $399.9K | +3.9% |
| Harrisville | $400K | $370K | -7.5% |
Housing Supply in Chepachet, RI
How many homes are available in Chepachet, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 27 | 0.0% |
Summary: The Chepachet real estate market had 27 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 | 3 | 2 | -33.3% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The Chepachet housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chepachet, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Chepachet in March 2024, up by 12.5% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Chepachet, RI
How long does it take to sell a home in Chepachet, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 28 Days | -47.9% |
Summary: Homes in Chepachet had an average of 28 days on market in Mar 2024, down by 47.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chepachet are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Chepachet; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
