Is Riverside, 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, Riverside has remained a Seller's Market.
Key Takeaway
Riverside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverside, RI
How much do homes in Riverside, RI cost?
Median Sold Price
$399,900
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Riverside have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Riverside was $399,900 in March 2024, up 6.6% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $295K | +28.3% |
| 2 Bedrooms | $295.7K | $331.5K | +12.1% |
| 3 Bedrooms | $382.6K | $410K | +7.1% |
| 4 Bedrooms | $415.5K | $430K | +3.5% |
| 5+ Bedrooms | $593.7K | $499.9K | -15.8% |
Summary: Riverside housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.3%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Providence | $390.6K | $433.7K | +11.1% |
| East Providence | $379K | $407K | +7.4% |
| Riverside | $375K | $399.9K | +6.6% |
| Seekonk | $494K | $520K | +5.3% |
| Barrington | $675K | $675K | 0.0% |
Housing Supply in Riverside, RI
How many homes are available in Riverside, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 45 | +2.3% |
Summary: The Riverside real estate market had 45 homes for sale in March 2024, a 2.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 8 | 4 | -50.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Riverside 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 22.2%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverside, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Riverside in March 2024, down by 18.8% month-over-month. Of the 13 sold homes, 15% were sold under asking, 23% were sold at asking, and 62% were sold over asking.
Days on Market for Riverside, RI
How long does it take to sell a home in Riverside, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 21 Days | -1.9% |
Summary: Homes in Riverside had an average of 21 days on market in Mar 2024, down by 1.9% compared to last year.
Breakdown of Home Sale Times
12 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 Riverside are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 13 homes were sold in Riverside; 92% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
