Is Riverside, 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, Riverside has remained a Seller's Market.
Key Takeaway
Riverside is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverside, RI
How much do homes in Riverside, RI cost?
Median Sold Price
$390,500
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Riverside have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Riverside was $390,500 in May 2024, up 4.1% from last year, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $295K | +28.3% |
| 2 Bedrooms | $300.7K | $330K | +9.7% |
| 3 Bedrooms | $380K | $410K | +7.9% |
| 4 Bedrooms | $415.5K | $428K | +3.0% |
| 5+ Bedrooms | $500K | $499.9K | 0% |
Summary: Riverside housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.3%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Providence | $392.7K | $451.5K | +14.9% |
| East Providence | $380.2K | $410K | +7.8% |
| Seekonk | $494K | $530K | +7.3% |
| Barrington | $646.6K | $689.5K | +6.6% |
| Riverside | $375K | $390.5K | +4.1% |
Housing Supply in Riverside, RI
How many homes are available in Riverside, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 57 | +16.3% |
Summary: The Riverside real estate market had 57 homes for sale in May 2024, a 16.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 12 | 12 | 0.0% |
| 3 Bedrooms | 27 | 32 | +18.5% |
| 4 Bedrooms | 5 | 9 | +80.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Riverside housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 80%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverside, you could pay more than the asking price. 73.3% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Riverside in May 2024, down by 11.8% month-over-month. Of the 15 sold homes, 13% were sold under asking, 13% were sold at asking, and 73% were sold over asking.
Days on Market for Riverside, RI
How long does it take to sell a home in Riverside, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 33 Days | +76.3% |
Summary: Homes in Riverside had an average of 33 days on market in May 2024, up by 76.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverside are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Riverside; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
