Is 02818, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 02818 has remained a Seller's Market.
Key Takeaway
02818 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02818, RI
How much do homes in 02818, RI cost?
Median Sold Price
$638,333
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 02818 have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in 02818 was $638,333 in May 2024, up 10.5% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $297.5K | -11.2% |
| 2 Bedrooms | $410K | $469K | +14.4% |
| 3 Bedrooms | $525K | $575K | +9.5% |
| 4 Bedrooms | $777.5K | $862.5K | +10.9% |
| 5+ Bedrooms | $880K | $847.5K | -3.7% |
Summary: 02818 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.2%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes decreased by 3.7%.
Housing Supply in 02818, RI
How many homes are available in 02818, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 84 | +20.0% |
Summary: The 02818 real estate market had 84 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 22 | 30 | +36.4% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The 02818 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 26 | +44.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02818, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 02818 in May 2024, up by 44.4% month-over-month. Of the 26 sold homes, 15% were sold under asking, 23% were sold at asking, and 62% were sold over asking.
Days on Market for 02818, RI
How long does it take to sell a home in 02818, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 23 Days | -50.5% |
Summary: Homes in 02818 had an average of 23 days on market in May 2024, down by 50.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02818 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in 02818; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
