Is West 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, West Warwick has remained a Seller's Market.
Housing Prices in West Warwick, RI
How much do homes in West Warwick, RI cost?
Median Sold Price
$358,500
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Warwick was $358,500 in April 2024, up 8% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $155.2K | +10.9% |
2 Bedrooms | $270K | $325K | +20.4% |
3 Bedrooms | $345.7K | $366.5K | +6.0% |
4 Bedrooms | $355K | $395K | +11.3% |
5+ Bedrooms | $375K | $440K | +17.3% |
Summary: West Warwick housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 20.4%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 17.3%.
Housing Supply in West Warwick, RI
How many homes are available in West Warwick, RI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
81 | 95 | +17.3% |
Summary: The West Warwick real estate market had 95 homes for sale in April 2024, a 17.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 21 | 28 | +33.3% |
3 Bedrooms | 30 | 32 | +6.7% |
4 Bedrooms | 15 | 17 | +13.3% |
5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The West 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 33.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 25 | +19.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in West Warwick in April 2024, up by 19.0% month-over-month. Of the 25 sold homes, 16% were sold under asking, 24% were sold at asking, and 60% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
34 Days | 36 Days | +5.1% |
Summary: Homes in West Warwick had an average of 36 days on market in Apr 2024, up by 5.1% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 25 homes were sold in West Warwick; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.