Is Westerly, 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, Westerly has remained a Seller's Market.
Key Takeaway
Westerly is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westerly, RI
How much do homes in Westerly, RI cost?
Median Sold Price
$465,750
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westerly have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Westerly was $465,750 in April 2024, up 6.6% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $177K | $496.3K | +180.4% |
| 2 Bedrooms | $350K | $399.9K | +14.3% |
| 3 Bedrooms | $435K | $497K | +14.3% |
| 4 Bedrooms | $620K | $620K | 0.0% |
| 5+ Bedrooms | $569.9K | $550K | -3.5% |
Summary: Westerly housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 180.4%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 14.3%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 3.5%.
Housing Supply in Westerly, RI
How many homes are available in Westerly, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 94 | 112 | +19.1% |
Summary: The Westerly real estate market had 112 homes for sale in April 2024, a 19.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 21 | 30 | +42.9% |
| 3 Bedrooms | 44 | 48 | +9.1% |
| 4 Bedrooms | 14 | 18 | +28.6% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Westerly housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 33 | +57.1% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westerly, you may be able to get a good deal. 51.5% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Westerly in April 2024, up by 57.1% month-over-month. Of the 33 sold homes, 52% were sold under asking, 21% were sold at asking, and 27% were sold over asking.
Days on Market for Westerly, RI
How long does it take to sell a home in Westerly, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 51 Days | 34 Days | -32.4% |
Summary: Homes in Westerly had an average of 34 days on market in Apr 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westerly are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in Westerly; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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