Is West Warwick, 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, West Warwick has remained a Seller's Market.
Housing Prices in West Warwick, RI
How much do homes in West Warwick, RI cost?
Median Sold Price
$350,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West Warwick was $350,000 in March 2024, up 6.1% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $166.5K | +18.9% |
2 Bedrooms | $269.9K | $310K | +14.8% |
3 Bedrooms | $343.5K | $366.5K | +6.7% |
4 Bedrooms | $335K | $385K | +14.9% |
5+ Bedrooms | $378K | $438.5K | +16.0% |
Summary: West Warwick housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 14.9%, and 5+ bedroom homes increased by 16%.
Housing Supply in West Warwick, RI
How many homes are available in West Warwick, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
82 | 78 | -4.9% |
Summary: The West Warwick real estate market had 78 homes for sale in March 2024, a 4.9% decrease 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 | 23 | 23 | 0.0% |
3 Bedrooms | 28 | 27 | -3.6% |
4 Bedrooms | 16 | 15 | -6.3% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The West Warwick 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 remained the same, 3 bedroom homes decreased by 3.6%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 21 | +5.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in West Warwick in March 2024, up by 5.0% month-over-month. Of the 21 sold homes, 33% were sold under asking, 5% were sold at asking, and 62% were sold over asking.
Days on Market for West Warwick, RI
How long does it take to sell a home in West Warwick, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 37 Days | +42.4% |
Summary: Homes in West Warwick had an average of 37 days on market in Mar 2024, up by 42.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in West Warwick; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.