$125,000
0.28 Acres
Land
Listing Office: HomeSmart Professionals
Is 02889, 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, 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
$385,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$37,550(+10.8%)
Key Takeaway
Homes in 02889 have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in 02889 was $385,000 in November 2024, up 10.8% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $239.5K | -2.2% |
| 2 Bedrooms | $305.5K | $330K | +8.0% |
| 3 Bedrooms | $360K | $391.7K | +8.8% |
| 4 Bedrooms | $410K | $440.5K | +7.4% |
| 5+ Bedrooms | $450K | $467K | +3.8% |
Summary: 02889 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 7.4%, 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 95 | 107 | +12.6% |
Summary: The 02889 real estate market had 107 homes for sale in November 2024, a 12.6% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 14 | 20 | +42.9% |
| 3 Bedrooms | 55 | 62 | +12.7% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 02889 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 12.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 29 | +38.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02889, you could pay more than the asking price. 65.5% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in 02889 in November 2024, up by 38.1% month-over-month. Of the 29 sold homes, 21% were sold under asking, 14% were sold at asking, and 66% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 23 Days | +0.7% |
Summary: Homes in 02889 had an average of 23 days on market in Nov 2024, up by 0.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
10 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 November 2024, 29 homes were sold in 02889; 66% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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