$5,105 Closing Credit*
$429,900
1,272 SqFt
4 Beds
•2 Full Baths
Listing Office: Coldwell Banker Coastal Homes
Is 02891, 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, 02891 has remained a Seller's Market.
Key Takeaway
02891 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02891, RI
How much do homes in 02891, RI cost?
Median Sold Price
$535,000
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$75,000(+16.3%)
Key Takeaway
Homes in 02891 have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in 02891 was $535,000 in November 2024, up 16.3% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $348K | $445K | +27.9% |
| 2 Bedrooms | $400K | $435K | +8.8% |
| 3 Bedrooms | $490K | $560K | +14.3% |
| 4 Bedrooms | $565K | $850K | +50.4% |
| 5+ Bedrooms | $540K | $600K | +11.1% |
Summary: 02891 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.9%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 50.4%, and 5+ bedroom homes increased by 11.1%.
Housing Supply in 02891, RI
How many homes are available in 02891, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 111 | 107 | -3.6% |
Summary: The 02891 real estate market had 107 homes for sale in November 2024, a 3.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 44 | 49 | +11.4% |
| 3 Bedrooms | 43 | 29 | -32.6% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The 02891 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.4%, 3 bedroom homes decreased by 32.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 28 | 29 | +3.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02891, you may be able to get a good deal. 44.8% of homes here sold below asking price last month.
Summary: A total of 29 homes were sold or pending in 02891 in November 2024, up by 3.6% month-over-month. Of the 29 sold homes, 45% were sold under asking, 21% were sold at asking, and 34% were sold over asking.
Days on Market for 02891, RI
How long does it take to sell a home in 02891, RI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 42 Days | 73 Days | +73.1% |
Summary: Homes in 02891 had an average of 73 days on market in Nov 2024, up by 73.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02891 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 29 homes were sold in 02891; 41% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
