Is 02917, 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, 02917 has remained a Seller's Market.
Key Takeaway
02917 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02917, RI
How much do homes in 02917, RI cost?
Median Sold Price
$425,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 02917 have sold for 1.4% less than they did a year ago.
Summary: The median home sold price in 02917 was $425,000 in May 2024, down 1.4% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $229K | $257.5K | +12.4% |
| 2 Bedrooms | $365.4K | $337.5K | -7.6% |
| 3 Bedrooms | $467K | $449.9K | -3.7% |
| 4 Bedrooms | $579.9K | $500K | -13.8% |
| 5+ Bedrooms | $405K | $500K | +23.5% |
Summary: 02917 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes decreased by 7.6%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 13.8%, and 5+ bedroom homes increased by 23.5%.
Housing Supply in 02917, RI
How many homes are available in 02917, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 36 | +9.1% |
Summary: The 02917 real estate market had 36 homes for sale in May 2024, a 9.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 14 | +40.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The 02917 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02917, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in 02917 in May 2024, up by 33.3% month-over-month. Of the 12 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.
Days on Market for 02917, RI
How long does it take to sell a home in 02917, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 16 Days | -29.2% |
Summary: Homes in 02917 had an average of 16 days on market in May 2024, down by 29.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02917 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in 02917; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
