$175,000
Land
Listing Office: Lamacchia Realty, Inc
Is 02878, 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, 02878 has remained a Seller's Market.
Key Takeaway
02878 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02878, RI
How much do homes in 02878, RI cost?
Median Sold Price
$491,250
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,750(+9.5%)
Key Takeaway
Homes in 02878 have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in 02878 was $491,250 in November 2024, up 9.5% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180.5K | $291K | +61.2% |
| 2 Bedrooms | $365K | $420K | +15.1% |
| 3 Bedrooms | $450K | $499K | +10.9% |
| 4 Bedrooms | $838K | $790.3K | -5.7% |
| 5+ Bedrooms | $525K | $580K | +10.5% |
Summary: 02878 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.2%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 10.5%.
Housing Supply in 02878, RI
How many homes are available in 02878, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 80 | 62 | -22.5% |
Summary: The 02878 real estate market had 62 homes for sale in November 2024, a 22.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 25 | 17 | -32.0% |
| 3 Bedrooms | 39 | 29 | -25.6% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 02878 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 32%, 3 bedroom homes decreased by 25.6%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 14 | -50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02878, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in 02878 in November 2024, down by 50.0% month-over-month. Of the 14 sold homes, 36% were sold under asking, 29% were sold at asking, and 36% were sold over asking.
Days on Market for 02878, RI
How long does it take to sell a home in 02878, RI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 41 Days | -16.7% |
Summary: Homes in 02878 had an average of 41 days on market in Nov 2024, down by 16.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 02878 has remained consistent over time.
Summary: During November 2024, 14 homes were sold in 02878; 36% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
