August 2023: Market Update

Hey there, home buyers and sellers! We've got some great news for you - the Rhode Island housing market is still going strong in August 2023. We've compared the year-over-year numbers from August 2022, and the data speaks for itself. Here are the highlights:

RI Single Family Home Sales

• Median Sales Price - $450,000 (Up 11.39%)
• Average Sales Price - $600,486 (Up 15.95%)
• Average SP/OLP - 102% (Up .99%)
• Average DOM - 27 (Down 6.9%)
• Total Sales - 725 (Down 26.47%)

RI Condo Home Sales

• Median Sales Price - $384,500 (Up 23.53%)

• Average Sales Price - $441,585 (Up 20.7%)

• Average SP/OLP - 102% (Up 2%)

• Average DOM - 30 (Up 11.11%)

• Total Sales - 154 (Down 11.49%)

RI Multi-Family Home Sales

• Median Sales Price - $475,000 (Up 11.76%)

• Average Sales Price - $518,054 (Up 12.61%)

• Average SP/OLP - 101%

• Average DOM - 27 (Up 8%)

• Total Sales - 131 (Down 36.1%)

City of Warwick Single Family Home Sales

• Median Sales Price - $380,000 (Up 7.04%)

• Average Sales Price - $410,694 (Down .2%)

• Average SP/OLP - 103% (Up 1.98%)

• Average DOM - 20 (Down 33.33%)

• Total Sales - 69 (Down 43.9%)

Kent County Single Family Home Sales

• Median Sales Price - $400,00 (Up 11.11%)

• Average Sales Price - $471,572 (Up 10.41%)

• Average SP/OLP - 103% (Up 1.98%)

• Average DOM - 22 (Down 24.14%)

• Total Sales - 145 (Down 39.08%)