$5,936 Closing Credit*
$499,900
2,256 SqFt
3 Beds
•2 Full Baths, 1 Partial
#73313468, Catherine Korona, Listing Office: Conway - Lakeville
Is 02878, 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, 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
$492,500
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$62,500(+14.5%)
Key Takeaway
Homes in 02878 have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in 02878 was $492,500 in October 2024, up 14.5% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180.5K | $291K | +61.2% |
| 2 Bedrooms | $370K | $420K | +13.5% |
| 3 Bedrooms | $446.5K | $499K | +11.8% |
| 4 Bedrooms | $760K | $790.3K | +4.0% |
| 5+ Bedrooms | $525K | $580K | +10.5% |
Summary: 02878 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 61.2%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 4%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 93 | 84 | -9.7% |
Summary: The 02878 real estate market had 84 homes for sale in October 2024, a 9.7% 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 | 33 | 27 | -18.2% |
| 3 Bedrooms | 42 | 40 | -4.8% |
| 4 Bedrooms | 15 | 12 | -20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 02878 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 18.2%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 25 | +31.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02878, you could pay more than the asking price. 44% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 02878 in October 2024, up by 31.6% month-over-month. Of the 25 sold homes, 36% were sold under asking, 20% were sold at asking, and 44% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 38 Days | -1.3% |
Summary: Homes in 02878 had an average of 38 days on market in Oct 2024, down by 1.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02878 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in 02878; 52% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
