$719,000
1.01 Acres
Land
Listing Office: Keller Williams Coastal
Is 02842, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 02842 has remained a Seller's Market.
Key Takeaway
02842 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02842, RI
How much do homes in 02842, RI cost?
Median Sold Price
$717,500
$427/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,500(+2.9%)
Key Takeaway
Homes in 02842 have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in 02842 was $717,500 in November 2024, up 2.9% from last year, and the median price per square foot was $427.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $520K | $475K | -8.7% |
| 2 Bedrooms | $464.1K | $675K | +45.4% |
| 3 Bedrooms | $600K | $672.5K | +12.1% |
| 4 Bedrooms | $946.3K | $974.1K | +2.9% |
| 5+ Bedrooms | $1.1M | $1.7M | +57.8% |
Summary: 02842 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.7%, 2 bedroom homes increased by 45.4%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 57.8%.
Housing Supply in 02842, RI
How many homes are available in 02842, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 50 | -5.7% |
Summary: The 02842 real estate market had 50 homes for sale in November 2024, a 5.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The 02842 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 11 | -21.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02842, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 02842 in November 2024, down by 21.4% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for 02842, RI
How long does it take to sell a home in 02842, RI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 70 Days | +183.0% |
Summary: Homes in 02842 had an average of 70 days on market in Nov 2024, up by 183% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02842 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in 02842; 36% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
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