$7,718 Closing Credit*
$649,900
9 Beds
•3 Full Baths
Listing Office: Prime Time Properties, Inc.
Is 02863, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 02863 has remained a Seller's Market.
Key Takeaway
02863 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02863, RI
How much do homes in 02863, RI cost?
Median Sold Price
$505,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$65,000(+14.8%)
Key Takeaway
Homes in 02863 have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in 02863 was $505,000 in December 2024, up 14.8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $299K | -8.0% |
| 2 Bedrooms | $246.5K | - | N/A |
| 3 Bedrooms | $347.5K | $341K | -1.9% |
| 4 Bedrooms | $370K | $385.1K | +4.1% |
| 5+ Bedrooms | $475K | $547.5K | +15.3% |
Summary: 02863 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes did not change, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 15.3%.
Housing Supply in 02863, RI
How many homes are available in 02863, RI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 24 | 24 | 0.0% |
Summary: The 02863 real estate market had 24 homes for sale in December 2024, the same as November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The 02863 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 22.2%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 3 | 10 | +233.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02863, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 02863 in December 2024, up by 233.3% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for 02863, RI
How long does it take to sell a home in 02863, RI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 28 Days | 19 Days | -30.5% |
Summary: Homes in 02863 had an average of 19 days on market in Dec 2024, down by 30.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02863 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 10 homes were sold in 02863; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
