Market Update: February 2024

Hey there, home buyers and sellers! We've got some great news for you - the Rhode Island housing market is still going strong in February 2024. We've compared the year-over-year numbers from November 2023, and the data speaks for itself. Here are the highlights:

 RI Single Family Home Sales

• Median Sales Price - $440,000  (Up 13.70%)
• Average Sales Price - $553,402  (Up 18.63%)
• Average SP/OLP - 100% (Flat)
• Average DOM - 37 (Down 7.50%)
• Total Sales - 455 (Up 9.11%)

RI Condo Home Sales

• Median Sales Price - $328,000 (Up 6.49%)

• Average Sales Price - $380,510 (Up 4.95%)

• Average SP/OLP - 100% (Down .99%)

• Average DOM - 39 (Up 30.00%)

• Total Sales - 115 (Up 35.29%)

RI Multi-Family Home Sales

• Median Sales Price - $520,000 (Up 15.56%)

• Average Sales Price - $539,987 (Up 18.77%)

• Average SP/OLP - 100% (Up 1.01%)

• Average DOM - 43 (Up 43.33%)

• Total Sales - 76 (Up 1.33%)

City of Warwick Single Family Home Sales

• Median Sales Price - $400,500 (Up 25.65%)

• Average Sales Price - $415,820 (Up 23.42%)

• Average SP/OLP - 99% (Flat)

• Average DOM - 45 (Up 18.42%)

• Total Sales - 54 (Up 22.73%)

Kent County Single Family Home Sales

• Median Sales Price - $386,000 (Up 13.55%)

• Average Sales Price - $437,178 (Up 13.37%)

• Average SP/OLP - 100% (Flat)

• Average DOM - 40 (Flat)

• Total Sales - 108 (Up 14.89%)