$6,757 Closing Credit*
$569,000
1,949 SqFt
3 Beds
•2 Full Baths, 1 Partial
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 October 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
$722,500
$412/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$72,500(+11.2%)
Key Takeaway
Homes in 02842 have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in 02842 was $722,500 in October 2024, up 11.2% from last year, and the median price per square foot was $412.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $547.5K | $462.5K | -15.5% |
| 2 Bedrooms | $468.2K | $602.2K | +28.6% |
| 3 Bedrooms | $600K | $677.5K | +12.9% |
| 4 Bedrooms | $908.8K | $1.0M | +12.8% |
| 5+ Bedrooms | $1.0M | $1.5M | +57.5% |
Summary: 02842 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.5%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 57.5%.
Housing Supply in 02842, RI
How many homes are available in 02842, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 | 56 | -13.8% |
Summary: The 02842 real estate market had 56 homes for sale in October 2024, a 13.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 12 | -25.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 17 | 16 | -5.9% |
Summary: The 02842 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 13 | -35.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02842, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 02842 in October 2024, down by 35.0% month-over-month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 37 Days | 44 Days | +19.0% |
Summary: Homes in 02842 had an average of 44 days on market in Oct 2024, up by 19% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 02842 has remained consistent over time.
Summary: During October 2024, 13 homes were sold in 02842; 23% of homes were sold within 30 days, 69% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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