$3,788 Closing Credit*
$319,000
1,614 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Better Living Real Estate, LLC
Is Central Falls, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Central Falls has remained a Seller's Market.
Key Takeaway
Central Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Central Falls, RI
How much do homes in Central Falls, RI cost?
Median Sold Price
$460,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$73,500(+19.0%)
Key Takeaway
Homes in Central Falls have sold for 19% more than they did a year ago.
Summary: The median home sold price in Central Falls was $460,000 in August 2024, up 19% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $307.5K | $299K | -2.8% |
| 2 Bedrooms | $269.9K | - | N/A |
| 3 Bedrooms | $320K | $345K | +7.8% |
| 4 Bedrooms | $329.5K | $389K | +18.1% |
| 5+ Bedrooms | $475K | $510K | +7.4% |
Summary: Central Falls housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes did not change, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Cities
| Central Falls | $386.5K | $460K | +19.0% |
| Lincoln | $430K | $470K | +9.3% |
| Cumberland | $439.9K | $480K | +9.1% |
| Pawtucket | $365K | $395.8K | +8.5% |
| Attleboro | $456.5K | $485.5K | +6.3% |
Housing Supply in Central Falls, RI
How many homes are available in Central Falls, RI?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 28 | 22 | -21.4% |
Summary: The Central Falls real estate market had 22 homes for sale in August 2024, a 21.4% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 15 | 9 | -40.0% |
Summary: The Central Falls housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Falls, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Central Falls in August 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Central Falls, RI
How long does it take to sell a home in Central Falls, RI?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 19 Days | 35 Days | +78.8% |
Summary: Homes in Central Falls had an average of 35 days on market in Aug 2024, up by 78.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Central Falls has remained consistent over time.
Summary: During August 2024, 5 homes were sold in Central Falls; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
