Is Washington County, 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, Washington County has remained a Seller's Market.
Housing Prices in Washington County, RI
How much do homes in Washington County, RI cost?
Median Sold Price
$561,211
$318/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Washington County was $561,211 in May 2024, up 1.2% from last year, and the median price per square foot was $318.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $264.5K | $312.5K | +18.1% |
2 Bedrooms | $489.9K | $425.2K | -13.2% |
3 Bedrooms | $529.1K | $560K | +5.8% |
4 Bedrooms | $729.1K | $745K | +2.2% |
5+ Bedrooms | $780K | $875K | +12.2% |
Summary: Washington County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes decreased by 13.2%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 12.2%.
Median Sold Price Compared To Nearby Counties
New London County | $303.5K | $335K | +10.4% |
Kent County | $358.4K | $393.5K | +9.8% |
Washington County | $554.4K | $561.2K | +1.2% |
Housing Supply in Washington County, RI
How many homes are available in Washington County, RI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
451 | 550 | +22.0% |
Summary: The Washington County real estate market had 550 homes for sale in May 2024, a 22.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 23 | 22 | -4.3% |
2 Bedrooms | 127 | 156 | +22.8% |
3 Bedrooms | 184 | 213 | +15.8% |
4 Bedrooms | 82 | 112 | +36.6% |
5+ Bedrooms | 35 | 47 | +34.3% |
Summary: The Washington County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.3%, 2 bedroom homes increased by 22.8%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 36.6%, and 5+ bedroom homes increased by 34.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
106 | 107 | +0.9% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Summary: A total of 107 homes were sold or pending in Washington County in May 2024, up by 0.9% month-over-month. Of the 107 sold homes, 40% were sold under asking, 19% were sold at asking, and 41% were sold over asking.
Days on Market for Washington County, RI
How long does it take to sell a home in Washington County, RI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
38 Days | 32 Days | -13.8% |
Summary: Homes in Washington County had an average of 32 days on market in May 2024, down by 13.8% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 107 homes were sold in Washington County; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.