Is West Greenwich, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, West Greenwich was a Neutral Market.
Key Takeaway
West Greenwich is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Greenwich, RI
How much do homes in West Greenwich, RI cost?
Median Sold Price
$565,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Greenwich have sold for 15.6% more than they did a year ago.
Summary: The median home sold price in West Greenwich was $565,000 in May 2024, up 15.6% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | - | N/A |
| 2 Bedrooms | $374.5K | $533.7K | +42.5% |
| 3 Bedrooms | $493.7K | $550K | +11.4% |
| 4 Bedrooms | $630K | $762K | +21.0% |
| 5+ Bedrooms | $803.6K | $612.5K | -23.8% |
Summary: West Greenwich housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 42.5%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 21%, and 5+ bedroom homes decreased by 23.8%.
Median Sold Price Compared To Nearby Cities
| West Greenwich | $488.7K | $565K | +15.6% |
| Greene | $435.7K | $490K | +12.4% |
| East Greenwich | $581K | $643.3K | +10.7% |
| Coventry | $360K | $380.1K | +5.6% |
| Exeter | $542.2K | $511.5K | -5.7% |
Housing Supply in West Greenwich, RI
How many homes are available in West Greenwich, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The West Greenwich real estate market had 14 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 2 | -60.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The West Greenwich housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 60%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Greenwich, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in West Greenwich in May 2024, down by 62.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for West Greenwich, RI
How long does it take to sell a home in West Greenwich, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 27 Days | -28.9% |
Summary: Homes in West Greenwich had an average of 27 days on market in May 2024, down by 28.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Greenwich are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in West Greenwich; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
