$1,661 Closing Credit*
$139,900
980 SqFt
3 Beds
•2 Full Baths
Listing Office: RI Real Estate Services
Is Warwick, 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, Warwick has remained a Seller's Market.
Key Takeaway
Warwick is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Warwick, RI
How much do homes in Warwick, RI cost?
Median Sold Price
$398,380
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$38,380(+10.7%)
Key Takeaway
Homes in Warwick have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in Warwick was $398,380 in October 2024, up 10.7% from last year, and the median price per square foot was $270.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $247.5K | +10.0% |
| 2 Bedrooms | $311.6K | $344K | +10.4% |
| 3 Bedrooms | $378.7K | $410K | +8.3% |
| 4 Bedrooms | $435.5K | $460K | +5.6% |
| 5+ Bedrooms | $450K | $525K | +16.7% |
Summary: Warwick housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 16.7%.
Median Sold Price Compared To Nearby Cities
| East Greenwich | $588.9K | $690K | +17.2% |
| North Kingstown | $540K | $625.7K | +15.9% |
| West Warwick | $340K | $388.3K | +14.2% |
| Warwick | $360K | $398.3K | +10.7% |
| Cranston | $395K | $434.2K | +9.9% |
Housing Supply in Warwick, RI
How many homes are available in Warwick, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 278 | 294 | +5.8% |
Summary: The Warwick real estate market had 294 homes for sale in October 2024, a 5.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 63 | 66 | +4.8% |
| 3 Bedrooms | 151 | 159 | +5.3% |
| 4 Bedrooms | 46 | 55 | +19.6% |
| 5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Warwick housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 74 | 90 | +21.6% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Warwick, you could pay more than the asking price. 53.3% of homes here sold above asking price last month.
Summary: A total of 90 homes were sold or pending in Warwick in October 2024, up by 21.6% month-over-month. Of the 90 sold homes, 36% were sold under asking, 11% were sold at asking, and 53% were sold over asking.
Days on Market for Warwick, RI
How long does it take to sell a home in Warwick, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 24 Days | -22.4% |
Summary: Homes in Warwick had an average of 24 days on market in Oct 2024, down by 22.4% compared to last year.
Breakdown of Home Sale Times
59 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Warwick are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 90 homes were sold in Warwick; 66% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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