$8,253 Closing Credit*
$695,000
1,307 SqFt
3 Beds
•2 Full Baths
Listing Office: HomeSmart Professionals
Is 02881, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 02881 was a Neutral Market.
Key Takeaway
02881 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02881, RI
How much do homes in 02881, RI cost?
Median Sold Price
$630,000
$327/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,000(+3.1%)
Key Takeaway
Homes in 02881 have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in 02881 was $630,000 in October 2024, up 3.1% from last year, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $335K | N/A |
| 2 Bedrooms | $393K | $585.5K | +49.0% |
| 3 Bedrooms | $610.5K | $612K | 0.2% |
| 4 Bedrooms | $709.5K | $699.9K | -1.3% |
| 5+ Bedrooms | $1.2M | $660K | -45.0% |
Summary: 02881 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 45%.
Housing Supply in 02881, RI
How many homes are available in 02881, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The 02881 real estate market had 13 homes for sale in October 2024, a 18.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 02881 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02881, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 02881 in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 02881, RI
How long does it take to sell a home in 02881, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 22 Days | -33.5% |
Summary: Homes in 02881 had an average of 22 days on market in Oct 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02881 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in 02881; 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.
