Is West Greenwich, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, West Greenwich was a Seller's Market.
Key Takeaway
West Greenwich is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in West Greenwich, RI
How much do homes in West Greenwich, RI cost?
Median Sold Price
$550,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Greenwich have sold for 10% more than they did a year ago.
Summary: The median home sold price in West Greenwich was $550,000 in March 2024, up 10% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | - | N/A |
| 2 Bedrooms | $290K | $520K | +79.3% |
| 3 Bedrooms | $495K | $496K | 0.2% |
| 4 Bedrooms | $630K | $765K | +21.4% |
| 5+ Bedrooms | $803.6K | $280K | -65.2% |
Summary: West Greenwich housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 79.3%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 65.2%.
Median Sold Price Compared To Nearby Cities
| West Greenwich | $500K | $550K | +10.0% |
| Coventry | $349.6K | $382.1K | +9.3% |
| East Greenwich | $606.6K | $634.9K | +4.7% |
| Exeter | $539K | $490K | -9.1% |
Housing Supply in West Greenwich, RI
How many homes are available in West Greenwich, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Summary: The West Greenwich real estate market had 12 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The West Greenwich 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 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Greenwich, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in West Greenwich in March 2024, the same as the previous month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for West Greenwich, RI
How long does it take to sell a home in West Greenwich, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 55 Days | 13 Days | -75.5% |
Summary: Homes in West Greenwich had an average of 13 days on market in Mar 2024, down by 75.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Greenwich are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in West Greenwich; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
