$2,255 Closing Credit*
$189,900
912 SqFt
2 Beds
•1 Full Bath
Listing Office: RE/MAX Preferred
Is West Warwick, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, West Warwick has remained a Seller's Market.
Key Takeaway
West Warwick is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Warwick, RI
How much do homes in West Warwick, RI cost?
Median Sold Price
$380,000
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$40,100(+11.8%)
Key Takeaway
Homes in West Warwick have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in West Warwick was $380,000 in September 2024, up 11.8% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $177.4K | +26.8% |
| 2 Bedrooms | $280K | $330K | +17.9% |
| 3 Bedrooms | $350K | $382K | +9.1% |
| 4 Bedrooms | $375K | $402K | +7.2% |
| 5+ Bedrooms | $414.5K | $450K | +8.6% |
Summary: West Warwick housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.8%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 8.6%.
Housing Supply in West Warwick, RI
How many homes are available in West Warwick, RI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 121 | 124 | +2.5% |
Summary: The West Warwick real estate market had 124 homes for sale in September 2024, a 2.5% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 37 | 38 | +2.7% |
| 3 Bedrooms | 47 | 47 | 0.0% |
| 4 Bedrooms | 20 | 17 | -15.0% |
| 5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The West Warwick housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 2.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 15%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 41 | 35 | -14.6% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Warwick, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in West Warwick in September 2024, down by 14.6% month-over-month. Of the 35 sold homes, 34% were sold under asking, 23% were sold at asking, and 43% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 32 Days | 35 Days | +8.9% |
Summary: Homes in West Warwick had an average of 35 days on market in Sep 2024, up by 8.9% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Warwick are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 35 homes were sold in West Warwick; 51% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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