Market Update: Quarter 1 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 Quarter 1 2024. We've compared the year-over-year numbers from Quarter 1 2023, and the data speaks for itself. Here are the highlights:

 RI Single Family Home Sales

• Median Sales Price - $440,000  (Up 12.82%)
• Average Sales Price - $572,572  (Up 16.53%)
• Average SP/OLP - 100% (Flat)
• Average DOM - 36 (Down 10.00%)
• Total Sales - 1,423 (Down 0.91%)

RI Condo Home Sales

• Median Sales Price - $341,500 (Up 6.75%)

• Average Sales Price - $407,957 (Up 1.14%)

• Average SP/OLP - 100% (Flat)

• Average DOM - 38 (Up 2.70%)

• Total Sales - 332 (Up 7.10%)

RI Multi-Family Home Sales

• Median Sales Price - $506,000 (Up 13.71%)

• Average Sales Price - $545,424 (Up 18.27%)

• Average SP/OLP - 101% (Up 1.00%)

• Average DOM - 33 (Up 3.13%)

• Total Sales - 281 (Down 11.36%)

City of Warwick Single Family Home Sales

• Median Sales Price - $400,000 (Up 17.65%)

• Average Sales Price - $424,886 (Up 11.98%)

• Average SP/OLP - 100% (Flat)

• Average DOM - 34 (Down 8.11%)

• Total Sales - 180 (Up 13.92%)

Kent County Single Family Home Sales

• Median Sales Price - $395,000 (Up 10.49%)

• Average Sales Price - $431,969 (Up 3.66%)

• Average SP/OLP - 100% (Flat)

• Average DOM - 34 (Down 12.82%)

• Total Sales - 328 (Up 3.47%)