Is Kent County, 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, Kent County has remained a Seller's Market.
Key Takeaway
Kent County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kent County, RI
How much do homes in Kent County, RI cost?
Median Sold Price
$385,649
$249/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Kent County have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Kent County was $385,649 in March 2024, up 8.9% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203K | $229.9K | +13.3% |
| 2 Bedrooms | $296.4K | $319.3K | +7.7% |
| 3 Bedrooms | $368.9K | $399.5K | +8.3% |
| 4 Bedrooms | $449.8K | $516.2K | +14.8% |
| 5+ Bedrooms | $425K | $456K | +7.3% |
Summary: Kent County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 7.3%.
Median Sold Price Compared To Nearby Counties
| Kent County | $354K | $385.6K | +8.9% |
| Providence County | $378.4K | $410.1K | +8.4% |
| Washington County | $550.9K | $551.9K | 0.2% |
Housing Supply in Kent County, RI
How many homes are available in Kent County, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 439 | 457 | +4.1% |
Summary: The Kent County real estate market had 457 homes for sale in March 2024, a 4.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 14 | 0.0% |
| 2 Bedrooms | 113 | 123 | +8.8% |
| 3 Bedrooms | 209 | 210 | 0.5% |
| 4 Bedrooms | 72 | 77 | +6.9% |
| 5+ Bedrooms | 31 | 33 | +6.5% |
Summary: The Kent County 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 increased by 8.8%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 6.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 124 | 136 | +9.7% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
81 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kent County, you could pay more than the asking price. 59.6% of homes here sold above asking price last month.
Summary: A total of 136 homes were sold or pending in Kent County in March 2024, up by 9.7% month-over-month. Of the 136 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Kent County, RI
How long does it take to sell a home in Kent County, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 30 Days | -14.9% |
Summary: Homes in Kent County had an average of 30 days on market in Mar 2024, down by 14.9% compared to last year.
Breakdown of Home Sale Times
86 Homes Were Sold
Under 30 Days
37 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kent County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 136 homes were sold in Kent County; 63% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
