$4,511 Closing Credit*
$379,900
1,606 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: RE/MAX Results
Is Silver Lake, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Silver Lake has remained a Seller's Market.
Key Takeaway
Silver Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Lake, RI
How much do homes in Silver Lake, RI cost?
Median Sold Price
$475,000
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$59,000(+14.2%)
Key Takeaway
Homes in Silver Lake have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Silver Lake was $475,000 in September 2024, up 14.2% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $290K | $225K | -22.4% |
| 3 Bedrooms | $282.5K | $383.5K | +35.8% |
| 4 Bedrooms | $345K | $411.5K | +19.3% |
| 5+ Bedrooms | $461K | $550K | +19.3% |
Summary: Silver Lake housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 22.4%, 3 bedroom homes increased by 35.8%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 19.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Hartford | $335K | $400K | +19.4% |
| Silver Lake | $416K | $475K | +14.2% |
| Olneyville | $425K | $460K | +8.2% |
| West End | $420K | $420K | 0.0% |
| West Broadway | $575K | $494.5K | -14.0% |
Housing Supply in Silver Lake, RI
How many homes are available in Silver Lake, RI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The Silver Lake real estate market had 21 homes for sale in September 2024, a 10.5% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Silver Lake housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Silver Lake in September 2024, down by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Silver Lake, RI
How long does it take to sell a home in Silver Lake, RI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 11 Days | 28 Days | +144.5% |
Summary: Homes in Silver Lake had an average of 28 days on market in Sep 2024, up by 144.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 4 homes were sold in Silver Lake; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
