$4,501 Closing Credit*
$379,000
608 SqFt
1 Bed
•1 Full Bath
Listing Office: Keller Williams Coastal
Is 02888, 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, 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
$405,000
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$42,500(+11.7%)
Key Takeaway
Homes in 02888 have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in 02888 was $405,000 in November 2024, up 11.7% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240.7K | $260K | +8.0% |
| 2 Bedrooms | $322.5K | $342.5K | +6.2% |
| 3 Bedrooms | $389K | $433K | +11.3% |
| 4 Bedrooms | $412.4K | $460K | +11.5% |
| 5+ Bedrooms | $449.9K | $490K | +8.9% |
Summary: 02888 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 8.9%.
Housing Supply in 02888, RI
How many homes are available in 02888, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 64 | 56 | -12.5% |
Summary: The 02888 real estate market had 56 homes for sale in November 2024, a 12.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 39 | 28 | -28.2% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 02888 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 28.2%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 20 | -16.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02888, you could pay more than the asking price. 45% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in 02888 in November 2024, down by 16.7% month-over-month. Of the 20 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 23 Days | -0.3% |
Summary: Homes in 02888 had an average of 23 days on market in Nov 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 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 November 2024, 20 homes were sold in 02888; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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