$4,572 Closing Credit*
$385,000
1,778 SqFt
3 Beds
•1 Full Bath
Listing Office: Mott & Chace Sotheby's Intl.
Is Warwick, 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, 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
$400,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$35,470(+9.7%)
Key Takeaway
Homes in Warwick have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Warwick was $400,000 in November 2024, up 9.7% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $250K | +11.1% |
| 2 Bedrooms | $315K | $345K | +9.5% |
| 3 Bedrooms | $380K | $415K | +9.2% |
| 4 Bedrooms | $437K | $469.9K | +7.5% |
| 5+ Bedrooms | $455K | $510K | +12.1% |
Summary: Warwick housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 12.1%.
Median Sold Price Compared To Nearby Cities
| North Kingstown | $540K | $626.1K | +15.9% |
| West Warwick | $340K | $390K | +14.7% |
| East Greenwich | $599.8K | $686.6K | +14.5% |
| Cranston | $399.9K | $440K | +10.0% |
| Warwick | $364.5K | $400K | +9.7% |
Housing Supply in Warwick, RI
How many homes are available in Warwick, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 287 | 273 | -4.9% |
Summary: The Warwick real estate market had 273 homes for sale in November 2024, a 4.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 60 | 60 | 0.0% |
| 3 Bedrooms | 154 | 144 | -6.5% |
| 4 Bedrooms | 55 | 52 | -5.5% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Warwick housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 95 | 85 | -10.5% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Warwick, you could pay more than the asking price. 54.1% of homes here sold above asking price last month.
Summary: A total of 85 homes were sold or pending in Warwick in November 2024, down by 10.5% month-over-month. Of the 85 sold homes, 29% were sold under asking, 16% were sold at asking, and 54% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 25 Days | +7.1% |
Summary: Homes in Warwick had an average of 25 days on market in Nov 2024, up by 7.1% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Warwick are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 85 homes were sold in Warwick; 68% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
