Is Washington 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, Washington County has remained a Seller's Market.
Key Takeaway
Washington County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Washington County, RI
How much do homes in Washington County, RI cost?
Median Sold Price
$551,910
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Washington County has remained the same since last year.
Summary: The median home sold price in Washington County was $551,910 in March 2024, up 0.2% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $264.5K | $295K | +11.5% |
| 2 Bedrooms | $459.7K | $425K | -7.6% |
| 3 Bedrooms | $533K | $550K | +3.2% |
| 4 Bedrooms | $740K | $750K | +1.4% |
| 5+ Bedrooms | $829.5K | $837.5K | +1.0% |
Summary: Washington County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes decreased by 7.6%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Counties
| New London County | $300K | $327.1K | +9.1% |
| Kent County | $354K | $385.6K | +8.9% |
| Washington County | $550.9K | $551.9K | 0.2% |
Housing Supply in Washington County, RI
How many homes are available in Washington County, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 361 | 389 | +7.8% |
Summary: The Washington County real estate market had 389 homes for sale in March 2024, a 7.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 20 | +53.8% |
| 2 Bedrooms | 93 | 90 | -3.2% |
| 3 Bedrooms | 155 | 163 | +5.2% |
| 4 Bedrooms | 62 | 76 | +22.6% |
| 5+ Bedrooms | 38 | 40 | +5.3% |
Summary: The Washington County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 53.8%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 75 | 103 | +37.3% |
Asking Price vs. Sold Price
48 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington County, you may be able to get a good deal. 46.6% of homes here sold below asking price last month.
Summary: A total of 103 homes were sold or pending in Washington County in March 2024, up by 37.3% month-over-month. Of the 103 sold homes, 47% were sold under asking, 22% were sold at asking, and 31% were sold over asking.
Days on Market for Washington County, RI
How long does it take to sell a home in Washington County, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 39 Days | -7.1% |
Summary: Homes in Washington County had an average of 39 days on market in Mar 2024, down by 7.1% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washington County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 103 homes were sold in Washington County; 60% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
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