$2,374 Closing Credit*
$199,900
846 SqFt
2 Beds
•1 Full Bath
Listing Office: Century 21 North East
Is Richmond, 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, Richmond has remained a Seller's Market.
Key Takeaway
Richmond is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Richmond, RI
How much do homes in Richmond, RI cost?
Median Sold Price
$427,500
$254/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since November 2023.
Key Takeaway
The sold price of homes in Richmond has remained the same since last year.
Summary: The median home sold price in Richmond was $427,500 in November 2024, the same as last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | - | N/A |
| 2 Bedrooms | $325K | $337.5K | +3.8% |
| 3 Bedrooms | $446.9K | $485K | +8.5% |
| 4 Bedrooms | $550K | $632.5K | +15.0% |
| 5+ Bedrooms | $5.8M | - | N/A |
Summary: Richmond housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 15%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Charlestown | $550K | $575K | +4.5% |
| Richmond | $427.5K | $427.5K | 0.0% |
Housing Supply in Richmond, RI
How many homes are available in Richmond, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 29 | +16.0% |
Summary: The Richmond real estate market had 29 homes for sale in November 2024, a 16.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Richmond 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 10%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Richmond, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Richmond in November 2024, up by 75.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Richmond, RI
How long does it take to sell a home in Richmond, RI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 33 Days | +41.9% |
Summary: Homes in Richmond had an average of 33 days on market in Nov 2024, up by 41.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Richmond are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Richmond; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
