Is Woonsocket, 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, Woonsocket has remained a Seller's Market.
Key Takeaway
Woonsocket is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Woonsocket, RI
How much do homes in Woonsocket, RI cost?
Median Sold Price
$380,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Woonsocket have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Woonsocket was $380,000 in May 2024, up 13.4% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $232.5K | +25.7% |
| 2 Bedrooms | $252K | $285K | +13.1% |
| 3 Bedrooms | $330K | $363.1K | +10.0% |
| 4 Bedrooms | $339.5K | $415K | +22.2% |
| 5+ Bedrooms | $425K | $480K | +12.9% |
Summary: Woonsocket housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Woonsocket | $335K | $380K | +13.4% |
| Cumberland | $430K | $480K | +11.6% |
| Bellingham | $441K | $489.9K | +11.1% |
| North Smithfield | $425K | $435K | +2.4% |
| Blackstone | $411K | $420K | +2.2% |
Housing Supply in Woonsocket, RI
How many homes are available in Woonsocket, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 75 | 83 | +10.7% |
Summary: The Woonsocket real estate market had 83 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 18 | 20 | +11.1% |
| 4 Bedrooms | 17 | 16 | -5.9% |
| 5+ Bedrooms | 25 | 34 | +36.0% |
Summary: The Woonsocket housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 36%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 20 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Woonsocket, you could pay more than the asking price. 65% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Woonsocket in May 2024, down by 20.0% month-over-month. Of the 20 sold homes, 15% were sold under asking, 20% were sold at asking, and 65% were sold over asking.
Days on Market for Woonsocket, RI
How long does it take to sell a home in Woonsocket, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 15 Days | -44.8% |
Summary: Homes in Woonsocket had an average of 15 days on market in May 2024, down by 44.8% compared to last year.
Breakdown of Home Sale Times
17 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 Woonsocket are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Woonsocket; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
