Is Pawtucket, 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, Pawtucket has remained a Seller's Market.
Key Takeaway
Pawtucket is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pawtucket, RI
How much do homes in Pawtucket, RI cost?
Median Sold Price
$385,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pawtucket have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Pawtucket was $385,000 in May 2024, up 8.5% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $140K | -24.3% |
| 2 Bedrooms | $285K | $310K | +8.8% |
| 3 Bedrooms | $335.6K | $365K | +8.7% |
| 4 Bedrooms | $375K | $395K | +5.3% |
| 5+ Bedrooms | $448K | $515K | +15.0% |
Summary: Pawtucket housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.3%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 15%.
Housing Supply in Pawtucket, RI
How many homes are available in Pawtucket, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 154 | 158 | +2.6% |
Summary: The Pawtucket real estate market had 158 homes for sale in May 2024, a 2.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 28 | 27 | -3.6% |
| 3 Bedrooms | 45 | 53 | +17.8% |
| 4 Bedrooms | 28 | 23 | -17.9% |
| 5+ Bedrooms | 50 | 50 | 0.0% |
Summary: The Pawtucket housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 17.8%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 53 | 50 | -5.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pawtucket, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 50 homes were sold or pending in Pawtucket in May 2024, down by 5.7% month-over-month. Of the 50 sold homes, 28% were sold under asking, 12% were sold at asking, and 60% were sold over asking.
Days on Market for Pawtucket, RI
How long does it take to sell a home in Pawtucket, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 24 Days | +23.6% |
Summary: Homes in Pawtucket had an average of 24 days on market in May 2024, up by 23.6% compared to last year.
Breakdown of Home Sale Times
36 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 Pawtucket are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 50 homes were sold in Pawtucket; 72% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
