Is East Greenwich, 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, East Greenwich has remained a Seller's Market.
Key Takeaway
East Greenwich is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Greenwich, RI
How much do homes in East Greenwich, RI cost?
Median Sold Price
$634,950
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in East Greenwich have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in East Greenwich was $634,950 in March 2024, up 4.7% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $270K | N/A |
| 2 Bedrooms | $414.9K | $497.5K | +19.9% |
| 3 Bedrooms | $540K | $569.5K | +5.5% |
| 4 Bedrooms | $777.5K | $820K | +5.5% |
| 5+ Bedrooms | $922.5K | $863.5K | -6.4% |
Summary: East Greenwich housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 6.4%.
Median Sold Price Compared To Nearby Cities
| Warwick | $344.2K | $380K | +10.4% |
| Coventry | $349.6K | $382.1K | +9.3% |
| West Warwick | $330K | $350K | +6.1% |
| East Greenwich | $606.6K | $634.9K | +4.7% |
| North Kingstown | $570K | $545.1K | -4.4% |
Housing Supply in East Greenwich, RI
How many homes are available in East Greenwich, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 55 | 55 | 0.0% |
Summary: The East Greenwich real estate market had 55 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 | 4 | 2 | -50.0% |
| 2 Bedrooms | 9 | 13 | +44.4% |
| 3 Bedrooms | 21 | 17 | -19.0% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The East Greenwich housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 44.4%, 3 bedroom homes decreased by 19%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 10 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Greenwich, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in East Greenwich in March 2024, down by 28.6% month-over-month. Of the 10 sold homes, 20% were sold under asking, 30% were sold at asking, and 50% were sold over asking.
Days on Market for East Greenwich, RI
How long does it take to sell a home in East Greenwich, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 22 Days | -53.8% |
Summary: Homes in East Greenwich had an average of 22 days on market in Mar 2024, down by 53.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Greenwich are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in East Greenwich; 90% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
