Is Warwick, 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, Warwick has remained a Seller's Market.
Key Takeaway
Warwick is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Warwick, RI
How much do homes in Warwick, RI cost?
Median Sold Price
$384,191
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Warwick have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in Warwick was $384,191 in April 2024, up 12.7% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $208K | $230K | +10.6% |
| 2 Bedrooms | $310K | $334K | +7.7% |
| 3 Bedrooms | $352K | $396.7K | +12.7% |
| 4 Bedrooms | $427.5K | $452.5K | +5.8% |
| 5+ Bedrooms | $449.9K | $502.5K | +11.7% |
Summary: Warwick housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Warwick | $340.8K | $384.1K | +12.7% |
| Cranston | $375K | $409.4K | +9.2% |
| West Warwick | $332K | $358.5K | +8.0% |
| East Greenwich | $606.6K | $631.4K | +4.1% |
| North Kingstown | $568K | $550K | -3.2% |
Housing Supply in Warwick, RI
How many homes are available in Warwick, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 242 | 249 | +2.9% |
Summary: The Warwick real estate market had 249 homes for sale in April 2024, a 2.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 6 | -50.0% |
| 2 Bedrooms | 54 | 66 | +22.2% |
| 3 Bedrooms | 124 | 128 | +3.2% |
| 4 Bedrooms | 42 | 38 | -9.5% |
| 5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The Warwick housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 84 | +3.7% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Warwick, you could pay more than the asking price. 56% of homes here sold above asking price last month.
Summary: A total of 84 homes were sold or pending in Warwick in April 2024, up by 3.7% month-over-month. Of the 84 sold homes, 30% were sold under asking, 14% were sold at asking, and 56% were sold over asking.
Days on Market for Warwick, RI
How long does it take to sell a home in Warwick, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 20 Days | -31.1% |
Summary: Homes in Warwick had an average of 20 days on market in Apr 2024, down by 31.1% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Warwick are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 84 homes were sold in Warwick; 76% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
