Quarter 1 2023 vs 2022 Market Update
Hey there, home buyers and sellers! We've got some great news for you - the Rhode Island Spring housing market is here! While inventory remains low, activity remains high. We've compared the year-over-year numbers from Quarter 1 2023. Here are the highlights:
RI Single Family Home Sales
Median Sales Price - $391,625 (up 4.4%)
Average SP - $494,544 (up 0.6%)
SP/OLP Ratio - 95.90% (down 3.2%)
Avg DOM - 42 Days (up 14.2%)
Total Sales - DOWN 33.1%
![](https://api.curaytor.io/sites/2791/media/2390177/Feb 23 SF RI (Instagram Post) (2) (1).png?w=1920)
RI Multi-Family Homes
Median Sales Price - $446,750 (up 11.7%)
Average SP - $462,098 (up 5.7%)
SP/OLP Ratio - 97.52% (down 2.9%)
Avg DOM - 36 Days (down 14.7%)
Total Sales - DOWN 38.7%
![](https://api.curaytor.io/sites/2791/media/2390180/Feb 23 RI MF (Instagram Post) (1) (1).png?w=1920)
RI Condo Sales
Median Sales Price - $319,900 (up 6.3%)
Average SP - $401,456 (up 13.2%)
SP/OLP Ratio - 99.21% (down 1.4%)
Avg DOM - 44 Days (up 14.6%)
Total Sales - DOWN 39.2%
![](https://api.curaytor.io/sites/2791/media/2390184/Feb 23 RI Condo (Instagram Post) (1) (1).png?w=1920)
City of Warwick Single Family Home Sales
Median Sales Price - $340,000 (up 4.6%)
Average SP - $377,865 (up 4.0%)
SP/OLP Ratio - 98.45% (down 2.1%)
Avg DOM - 40 Days (up 27.5%)
Total Sales - DOWN 36.8%
![](https://api.curaytor.io/sites/2791/media/2390202/Feb 23 SF War (Instagram Post) (1) (1).png?w=1920)
At our agency, we know that these numbers can be overwhelming, and it can be tough to know what they mean for your unique situation. That's where we come in! Our experienced team is ready to help you navigate the market and find the best deal for you.
Don't hesitate to reach out to us for more information on how we can help you buy or sell your home in this competitive market.