Is Coventry, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Coventry has remained a Seller's Market.
Key Takeaway
Coventry is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Coventry, RI
How much do homes in Coventry, RI cost?
Median Sold Price
$380,412
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Coventry have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Coventry was $380,412 in April 2024, up 8.7% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.5K | $217.5K | -4.4% |
| 2 Bedrooms | $240K | $221.9K | -7.5% |
| 3 Bedrooms | $384K | $406.2K | +5.8% |
| 4 Bedrooms | $430K | $560K | +30.2% |
| 5+ Bedrooms | $380K | $427.5K | +12.5% |
Summary: Coventry housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 30.2%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| West Greenwich | $493.7K | $570K | +15.4% |
| Coventry | $349.9K | $380.4K | +8.7% |
| West Warwick | $332K | $358.5K | +8.0% |
| Scituate | $420K | $432.5K | +3.0% |
Housing Supply in Coventry, RI
How many homes are available in Coventry, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 101 | 132 | +30.7% |
Summary: The Coventry real estate market had 132 homes for sale in April 2024, a 30.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 3 | +100.0% |
| 2 Bedrooms | 40 | 47 | +17.5% |
| 3 Bedrooms | 48 | 63 | +31.3% |
| 4 Bedrooms | 11 | 16 | +45.5% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Coventry housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 27 | -3.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coventry, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Coventry in April 2024, down by 3.6% month-over-month. Of the 27 sold homes, 37% were sold under asking, 22% were sold at asking, and 41% were sold over asking.
Days on Market for Coventry, RI
How long does it take to sell a home in Coventry, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 46 Days | +47.3% |
Summary: Homes in Coventry had an average of 46 days on market in Apr 2024, up by 47.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Coventry are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in Coventry; 59% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
