$10,000 Closing Credit*
$949,000
6 Beds
•3 Full Baths
Listing Office: Compass
Is West Broadway, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, West Broadway was a Seller's Market.
Key Takeaway
West Broadway is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West Broadway, RI
How much do homes in West Broadway, RI cost?
Median Sold Price
$525,000
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$50,000(-8.7%)
Key Takeaway
Homes in West Broadway have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in West Broadway was $525,000 in October 2024, down 8.7% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $217.5K | $235K | +8.0% |
| 2 Bedrooms | $362.6K | $347.2K | -4.2% |
| 3 Bedrooms | $469.9K | $489K | +4.1% |
| 4 Bedrooms | $409K | $600K | +46.7% |
| 5+ Bedrooms | $660.9K | $781.5K | +18.2% |
Summary: West Broadway housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Federal Hill | $480K | $534.2K | +11.3% |
| West End | $428.2K | $425K | -0.8% |
| West Broadway | $575K | $525K | -8.7% |
Housing Supply in West Broadway, RI
How many homes are available in West Broadway, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 30 | +36.4% |
Summary: The West Broadway real estate market had 30 homes for sale in October 2024, a 36.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 3 | 7 | +133.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The West Broadway housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Broadway, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in West Broadway in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for West Broadway, RI
How long does it take to sell a home in West Broadway, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 16 Days | +56.3% |
Summary: Homes in West Broadway had an average of 16 days on market in Oct 2024, up by 56.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Broadway are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in West Broadway; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
