Is Rumford, 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, Rumford has remained a Seller's Market.
Key Takeaway
Rumford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rumford, RI
How much do homes in Rumford, RI cost?
Median Sold Price
$445,000
$268/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rumford have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Rumford was $445,000 in May 2024, up 1.7% from last year, and the median price per square foot was $268.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $339.9K | $365K | +7.4% |
| 3 Bedrooms | $432K | $447K | +3.5% |
| 4 Bedrooms | $465K | $468.5K | +0.8% |
| 5+ Bedrooms | $530.5K | $545K | +2.7% |
Summary: Rumford 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 7.4%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Cities
| Pawtucket | $355K | $385K | +8.5% |
| East Providence | $380.2K | $410K | +7.8% |
| Seekonk | $494K | $530K | +7.3% |
| Rumford | $437.5K | $445K | +1.7% |
Housing Supply in Rumford, RI
How many homes are available in Rumford, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 33 | +37.5% |
Summary: The Rumford real estate market had 33 homes for sale in May 2024, a 37.5% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 12 | 16 | +33.3% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Rumford 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 increased by 66.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 15 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rumford, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Rumford in May 2024, up by 400.0% month-over-month. Of the 15 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Rumford, RI
How long does it take to sell a home in Rumford, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 16 Days | -45.6% |
Summary: Homes in Rumford had an average of 16 days on market in May 2024, down by 45.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rumford are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Rumford; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
