Is Warren, 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, Warren has remained a Seller's Market.
Key Takeaway
Warren is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Warren, RI
How much do homes in Warren, RI cost?
Median Sold Price
$482,000
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Warren have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Warren was $482,000 in May 2024, up 5.9% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.3K | $179K | +35.3% |
| 2 Bedrooms | $355K | $435K | +22.5% |
| 3 Bedrooms | $437.5K | $527.5K | +20.6% |
| 4 Bedrooms | $629K | $460K | -26.9% |
| 5+ Bedrooms | $575K | $585.5K | +1.8% |
Summary: Warren housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.3%, 2 bedroom homes increased by 22.5%, 3 bedroom homes increased by 20.6%, 4 bedroom homes decreased by 26.9%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Bristol | $500K | $610K | +22.0% |
| Swansea | $421.5K | $450K | +6.8% |
| Barrington | $646.6K | $689.5K | +6.6% |
| Warren | $455K | $482K | +5.9% |
Housing Supply in Warren, RI
How many homes are available in Warren, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 31 | +47.6% |
Summary: The Warren real estate market had 31 homes for sale in May 2024, a 47.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 7 | 12 | +71.4% |
| 4 Bedrooms | 5 | 8 | +60.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Warren 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 remained the same, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 60%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 12 | +500.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Warren, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Warren in May 2024, up by 500.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Warren, RI
How long does it take to sell a home in Warren, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 141 Days | 16 Days | -88.2% |
Summary: Homes in Warren had an average of 16 days on market in May 2024, down by 88.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Warren are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Warren; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
