Market Update: October 2024 vs 2023

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

 RI Single Family Home Sales

• Median Sales Price - $485,000   (Up 11.49%)
• Average Sales Price - $648,476   (Up 9.12%)
• Average SP/OLP - 100% (Down 0.99%)
• Average DOM - 31 (Down 6.06%)
• Total Sales - 680 (Up 5.43%)

RI Condo Home Sales

• Median Sales Price - $355,000 (Down 6.58%)

• Average Sales Price - $464,927 (Down 5.96%)

• Average SP/OLP - 100% (Down 0.99)

• Average DOM - 33 (Down 5.71%)

• Total Sales - 183 (Up 15.09%)

RI Multi-Family Home Sales

• Median Sales Price - $560,000 (Up 16.06%)

• Average Sales Price - $614,352 (Up 12.41%)

• Average SP/OLP - 102% (No Change)

• Average DOM - 26 (Up 13.04%)

• Total Sales - 143 (Up 17.21%)

City of Warwick Single Family Home Sales

• Median Sales Price - $435,000 (Up 9.78%)

• Average Sales Price - $482,378 (Up 5.46%)

• Average SP/OLP - 102% (Down 0.97%)

• Average DOM - 22 (Down 33.33%)

• Total Sales - 78 (Up 14.71%)