$5,451 Closing Credit*
$459,000
1,296 SqFt
2 Beds
•1 Full Bath
#73312861, April Holland, Listing Office: Keller Williams Realty Leading Edge
Is 02889, 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, 02889 has remained a Seller's Market.
Key Takeaway
02889 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02889, RI
How much do homes in 02889, RI cost?
Median Sold Price
$384,125
$263/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$44,125(+13.0%)
Key Takeaway
Homes in 02889 have sold for 13% more than they did a year ago.
Summary: The median home sold price in 02889 was $384,125 in October 2024, up 13% from last year, and the median price per square foot was $263.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $237.5K | $239.5K | +0.8% |
| 2 Bedrooms | $300K | $330K | +10.0% |
| 3 Bedrooms | $355K | $388.2K | +9.4% |
| 4 Bedrooms | $410K | $425K | +3.7% |
| 5+ Bedrooms | $450K | $467K | +3.8% |
Summary: 02889 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 3.8%.
Housing Supply in 02889, RI
How many homes are available in 02889, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 | 104 | +22.4% |
Summary: The 02889 real estate market had 104 homes for sale in October 2024, a 22.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 20 | 21 | +5.0% |
| 3 Bedrooms | 48 | 58 | +20.8% |
| 4 Bedrooms | 14 | 20 | +42.9% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 02889 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 increased by 5%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 21 | -12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02889, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 02889 in October 2024, down by 12.5% month-over-month. Of the 21 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for 02889, RI
How long does it take to sell a home in 02889, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 19 Days | -52.5% |
Summary: Homes in 02889 had an average of 19 days on market in Oct 2024, down by 52.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02889 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 21 homes were sold in 02889; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
