Is Kent County, RI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kent County is a 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

+$31,559(+8.9%)

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

# BEDSMar 2023Mar 2024CHANGE
1 $203K$229.9K
+13.3%
2 $296.4K$319.3K
+7.7%
3 $368.9K$399.5K
+8.3%
4 $449.8K$516.2K
+14.8%
5+ $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
+8.9%
Providence County
+8.4%
Washington County
0.2%

Housing Supply in Kent County, RI

How many homes are available in Kent County, RI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
439457+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

# BEDSFeb 2024Mar 2024CHANGE
1 1414
0.0%
2 113123
+8.8%
3 209210
0.5%
4 7277
+6.9%
5+ 3133
+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 2024Mar 2024CHANGE
124136+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

Asking vs Sold - buyer

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 2023Mar 2024CHANGE
36 Days30 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in Kent County, RI

Nearby Markets to Kent County, RI

What housing markets are near Kent County, RI?