$189,900
0.53 Acres
Land
Listing Office: RE/MAX South County
Is 02891, 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, 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
$523,166
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$58,166(+12.5%)
Key Takeaway
Homes in 02891 have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in 02891 was $523,166 in October 2024, up 12.5% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $555K | +85.0% |
| 2 Bedrooms | $401.1K | $415K | +3.5% |
| 3 Bedrooms | $490K | $550K | +12.2% |
| 4 Bedrooms | $572.5K | $768.5K | +34.2% |
| 5+ Bedrooms | $562.5K | $565K | 0.4% |
Summary: 02891 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 85%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 34.2%, and 5+ bedroom homes increased by 0.4%.
Housing Supply in 02891, RI
How many homes are available in 02891, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 120 | 116 | -3.3% |
Summary: The 02891 real estate market had 116 homes for sale in October 2024, a 3.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 39 | 44 | +12.8% |
| 3 Bedrooms | 53 | 44 | -17.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The 02891 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 12.8%, 3 bedroom homes decreased by 17%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 26 | -16.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02891, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 02891 in October 2024, down by 16.1% month-over-month. Of the 26 sold homes, 38% were sold under asking, 12% were sold at asking, and 50% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 40 Days | +33.7% |
Summary: Homes in 02891 had an average of 40 days on market in Oct 2024, up by 33.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 26 homes were sold in 02891; 50% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
