Hey there, home buyers and sellers! We've got some great news for you - the Rhode Island housing market closed out 2023 pretty strong. We've compared the year-over-year numbers from December, Q4 & 2023 vs 2022, and the data speaks for itself. Here are the highlights:
December RI Single Family Home Sales
- Median Sales Price - $425,500 (Up 9.13%)
- Average Sales Price - $559,727 (Up 8.97%)
- Average SP/OLP - 100% (Up 1.01%)
- Average DOM - 34 (Down 5.56%)
- Total Sales - 511 (Down 21.63%)
December RI Condo Home Sales
- Median Sales Price - $360,000 (Up 7.46%)
- Average Sales Price - $454,635 (Up 8.71%)
- Average SP/OLP - 99% (Down 1.98%)
- Average DOM - 36 (Up 9.09%)
- Total Sales - 116 (Down 17.73%)
December RI Multi-Family Home Sales
- Median Sales Price - $478,500 (Up 11.30%)
- Average Sales Price - $512,259 (Up 7.26%)
- Average SP/OLP - 103% (Up 3%)
- Average DOM - 23 (Down 32.35%)
- Total Sales - 128 (Down 0.78%)
December City of Warwick Single Family Home Sales
- Median Sales Price - $370,350 (Up 11.72%)
- Average Sales Price - $430,294 (Up 20.20%)
- Average SP/OLP - 100% (Up 1.01%)
- Average DOM - 31 (Down 11.43%)
- Total Sales - 54 (Down 32.50%)
December Kent County Single Family Home Sales
- Median Sales Price - $380,000 (Up 11.60%)
- Average Sales Price - $460,729 (Up 19.51%)
- Average SP/OLP - 101% (Up 1.00%)
- Average DOM - 32 (Down 11.11%)
- Total Sales - 103 (Down 28.47%)
Quarter 4 RI Single Family Home Sales
- Median Sales Price - $430,000 (Up 7.50%)
- Average Sales Price - $588,481 (Up 9.81%)
- Average SP/OLP - 101% (Up 2.02%)
- Average DOM - 32 (Down 8.57%)
- Total Sales - 1,749 (Down 17.46%)
Quarter 4 Condo Home Sales
- Median Sales Price - $365,000 (Up 10.94%)
- Average Sales Price - $453,736 (Up 7.84%)
- Average SP/OLP - 100% (Flat)
- Average DOM - 33 (Down 5.71%)
- Total Sales - 397 (Down 15.35%)
Quarter 4 Multi-Family Home Sales
- Median Sales Price - $485,000 (Up 15.20%)
- Average Sales Price - $528,191 (Up 17.34%)
- Average SP/OLP - 102% (Up 0.99%)
- Average DOM - 23 (Down 32.35%)
- Total Sales - 375 (Down 6.25%)
Quarter 4 Warwick Single-Family Home Sales
- Median Sales Price - $381,000 (Up 13.73%)
- Average Sales Price - $454,062 (Up 20.11%)
- Average SP/OLP - 102% (Up 2.00%)
- Average DOM - 29 (Down 17.14%)
- Total Sales - 184 (Down 20.35%)
Quarter 4 Kent County Single-Family Home Sales
- Median Sales Price - $395,000 (Up 13.59%)
- Average Sales Price - $459,299 (Up 16.04%)
- Average SP/OLP - 101% (Up 1.00%)
- Average DOM - 29 (Down 14.71%)
- Total Sales - 369 (Down 18.00%)
2023 vs 2022 Rhode Island Single-Family Home Sales
- Median Sales Price - $425,000 (Up 5.85%)
- Average Sales Price - $558,210 (Up 5.72%)
- Average SP/OLP - 100% (Down 1.96%)
- Average DOM - 32 (Up 3.23%)
- Total Sales - 7,403 (Down 22.25%)
2023 vs 2022 Rhode Island Condo Sales
- Median Sales Price - $357,250 (Up 11.68%)
- Average Sales Price - $443,071 (Up 14.81%)
- Average SP/OLP - 101% (Flat)
- Average DOM - 35 (Up 12.90%)
- Total Sales - 1,684 (Down 21.75%)
2023 vs 2022 Rhode Island Multi-Family Home Sales
- Median Sales Price - $470,000 (Up 11.90%)
- Average Sales Price - $508,139 (Up 10.52%)
- Average SP/OLP - 102% (Flat)
- Average DOM - 26 (Down 13.33%)
- Total Sales - 1,460 (Down 28.29%)
2023 vs 2022 Warwick Single-Family Home Sales
- Median Sales Price - $377,000 (Up 8.33%)
- Average Sales Price - $419,039 (Up 4.74%)
- Average SP/OLP - 102% (Flat)
- Average DOM - 27 (Down 3.57%)
- Total Sales - 817 (Down 26.06%)
2023 vs 2022 Kent County Single-Family Home Sales
- Median Sales Price - $389,000 (Up 8.06%)
- Average Sales Price - $445,832 (Up 7.10%)
- Average SP/OLP - 101% (Down 0.98%)
- Average DOM - 29 (Flat)
- Total Sales - 1,614 (Down 22.03%)