Market Update: January 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 January 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 - $441,000 (Up 13.08%)
• Average Sales Price - $609,588 (Up 17.83%)
• Average SP/OLP - 9% (Flat)
• Average DOM - 40 (Down 2.44%)
• Total Sales - 441 (Down 6.17%)

RI Condo Home Sales

• Median Sales Price - $325,000 (Up 1.56%)

• Average Sales Price - $375,106 (Down 10.79%)

• Average SP/OLP - 100% (Flat)

• Average DOM - 32 (Down 13.51%)

• Total Sales - 89 (Down 7.29%)

RI Multi-Family Home Sales

• Median Sales Price - $475,000 (Up 7.95%)

• Average Sales Price - $535,776 (Up 23.01%)

• Average SP/OLP - 101% (Up 1%)

• Average DOM - 25 (Down 19.35%)

• Total Sales - 105 (Down 12.50%)

City of Warwick Single Family Home Sales

• Median Sales Price - $410,000 (Up 19.19%)

• Average Sales Price - $434,375 (Down 13.29%)

• Average SP/OLP - 99% (Down 1%)

• Average DOM - 33 (Up 10.00%)

• Total Sales - 50 (Down 7.41%)

Kent County Single Family Home Sales

• Median Sales Price - $394,900 (Up 11.24%)

• Average Sales Price - $435,742 (Up 9.67%)

• Average SP/OLP - 100% (Up 1%)

• Average DOM - 33 (Down 17.50%)

• Total Sales - 99 (Down 2.94%)