$325,000
1.14 Acres
Land
Listing Office: BHHS Commonwealth Real Estate
Is 02831, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 02831 was a Seller's Market.
Key Takeaway
02831 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 02831, RI
How much do homes in 02831, RI cost?
Median Sold Price
$472,750
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$53,250(+12.7%)
Key Takeaway
Homes in 02831 have sold for 12.7% more than they did a year ago.
Summary: The median home sold price in 02831 was $472,750 in October 2024, up 12.7% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | - | N/A |
| 2 Bedrooms | $340K | $375K | +10.3% |
| 3 Bedrooms | $490K | $550K | +12.2% |
| 4 Bedrooms | $537.5K | $655K | +21.9% |
| 5+ Bedrooms | $475K | $419K | -11.8% |
Summary: 02831 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes decreased by 11.8%.
Housing Supply in 02831, RI
How many homes are available in 02831, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 17 | -22.7% |
Summary: The 02831 real estate market had 17 homes for sale in October 2024, a 22.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 02831 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 02831, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 02831 in October 2024, down by 75.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for 02831, RI
How long does it take to sell a home in 02831, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 10 Days | -63.3% |
Summary: Homes in 02831 had an average of 10 days on market in Oct 2024, down by 63.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02831 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in 02831; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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