$5,047 Closing Credit*
$425,000
1,588 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Pereira Family Realty
Is 02888, 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, 02888 has remained a Seller's Market.
Key Takeaway
02888 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02888, RI
How much do homes in 02888, RI cost?
Median Sold Price
$403,000
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$47,100(+13.2%)
Key Takeaway
Homes in 02888 have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in 02888 was $403,000 in October 2024, up 13.2% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250.5K | $255K | +1.8% |
| 2 Bedrooms | $315K | $340K | +7.9% |
| 3 Bedrooms | $379.9K | $431K | +13.5% |
| 4 Bedrooms | $403.7K | $452.5K | +12.1% |
| 5+ Bedrooms | $450K | $575K | +27.8% |
Summary: 02888 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 27.8%.
Housing Supply in 02888, RI
How many homes are available in 02888, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 62 | -3.1% |
Summary: The 02888 real estate market had 62 homes for sale in October 2024, a 3.1% 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 | 13 | 12 | -7.7% |
| 3 Bedrooms | 35 | 37 | +5.7% |
| 4 Bedrooms | 10 | 10 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 02888 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 decreased by 7.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 24 | +41.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02888, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in 02888 in October 2024, up by 41.2% month-over-month. Of the 24 sold homes, 29% were sold under asking, 13% were sold at asking, and 58% were sold over asking.
Days on Market for 02888, RI
How long does it take to sell a home in 02888, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 22 Days | -37.0% |
Summary: Homes in 02888 had an average of 22 days on market in Oct 2024, down by 37% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02888 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 02888; 63% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
