$6,472 Closing Credit*
$545,000
2,129 SqFt
4 Beds
•2 Full Baths
Listing Office: HomeSmart Professionals
Is 02885, 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, 02885 was a Seller's Market.
Key Takeaway
02885 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 02885, RI
How much do homes in 02885, RI cost?
Median Sold Price
$525,000
$328/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,250(+10.6%)
Key Takeaway
Homes in 02885 have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in 02885 was $525,000 in October 2024, up 10.6% from last year, and the median price per square foot was $328.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | $179K | -15.6% |
| 2 Bedrooms | $433K | $430K | -0.7% |
| 3 Bedrooms | $508K | $527.5K | +3.8% |
| 4 Bedrooms | $535K | $550K | +2.8% |
| 5+ Bedrooms | $575K | $625K | +8.7% |
Summary: 02885 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.6%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 8.7%.
Housing Supply in 02885, RI
How many homes are available in 02885, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 30 | -9.1% |
Summary: The 02885 real estate market had 30 homes for sale in October 2024, a 9.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 02885 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 2 | -80.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02885, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in 02885 in October 2024, down by 80.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for 02885, RI
How long does it take to sell a home in 02885, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 31 Days | +80.0% |
Summary: Homes in 02885 had an average of 31 days on market in Oct 2024, up by 80% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 02885 has remained consistent over time.
Summary: During October 2024, 2 homes were sold in 02885; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
