Is East Greenwich, 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, East Greenwich has remained a Seller's Market.
Key Takeaway
East Greenwich is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Greenwich, RI
How much do homes in East Greenwich, RI cost?
Median Sold Price
$643,300
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Greenwich have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in East Greenwich was $643,300 in May 2024, up 10.7% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $297.5K | -11.2% |
| 2 Bedrooms | $410K | $495K | +20.7% |
| 3 Bedrooms | $525K | $575K | +9.5% |
| 4 Bedrooms | $779K | $862.5K | +10.7% |
| 5+ Bedrooms | $880K | $847.5K | -3.7% |
Summary: East Greenwich housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.2%, 2 bedroom homes increased by 20.7%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Warwick | $346.9K | $385K | +11.0% |
| East Greenwich | $581K | $643.3K | +10.7% |
| West Warwick | $332K | $362K | +9.0% |
| Coventry | $360K | $380.1K | +5.6% |
| North Kingstown | $567.3K | $570K | 0.5% |
Housing Supply in East Greenwich, RI
How many homes are available in East Greenwich, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 84 | +20.0% |
Summary: The East Greenwich real estate market had 84 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 22 | 30 | +36.4% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Summary: The East Greenwich housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 45.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 26 | +44.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Greenwich, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in East Greenwich in May 2024, up by 44.4% month-over-month. Of the 26 sold homes, 15% were sold under asking, 23% were sold at asking, and 62% were sold over asking.
Days on Market for East Greenwich, RI
How long does it take to sell a home in East Greenwich, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 23 Days | -50.5% |
Summary: Homes in East Greenwich had an average of 23 days on market in May 2024, down by 50.5% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Greenwich are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in East Greenwich; 77% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
