Is Kent County, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$395,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Kent County have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Kent County was $395,000 in June 2024, up 9.7% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $230K | +9.5% |
| 2 Bedrooms | $299.9K | $325.6K | +8.6% |
| 3 Bedrooms | $374.9K | $405K | +8.0% |
| 4 Bedrooms | $454K | $517.5K | +14.0% |
| 5+ Bedrooms | $419.9K | $463.5K | +10.4% |
Summary: Kent County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.5%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Counties
| Providence County | $384.2K | $424.9K | +10.6% |
| Kent County | $359.9K | $395K | +9.7% |
| Washington County | $550.7K | $567.3K | +3.0% |
Housing Supply in Kent County, RI
How many homes are available in Kent County, RI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 633 | 630 | -0.5% |
Summary: The Kent County real estate market had 630 homes for sale in June 2024, a 0.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 26 | +52.9% |
| 2 Bedrooms | 146 | 157 | +7.5% |
| 3 Bedrooms | 291 | 299 | +2.7% |
| 4 Bedrooms | 123 | 101 | -17.9% |
| 5+ Bedrooms | 56 | 47 | -16.1% |
Summary: The Kent County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 52.9%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes decreased by 16.1%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 202 | 161 | -20.3% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
96 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 161 homes were sold or pending in Kent County in June 2024, down by 20.3% month-over-month. Of the 161 sold homes, 26% were sold under asking, 14% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 23 Days | 22 Days | -5.3% |
Summary: Homes in Kent County had an average of 22 days on market in Jun 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
125 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
4 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 June 2024, 161 homes were sold in Kent County; 78% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
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