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Rhode Island - 2nd Quarter Sales Statistics

Nick Slocum, SRS, ABR, ePRO, RENE, CIC

Nick Slocum is a third generation real estate broker and Assistant Vice President at The Slocum Agency, a real estate brokerage and insurance agency i.

Nick Slocum is a third generation real estate broker and Assistant Vice President at The Slocum Agency, a real estate brokerage and insurance agency i.

Sep 24 3 minutes read

The Rhode Island Association of Realtors recently released second-quarter statistics for the Rhode Island real estate market.  We looked through the single-family stats and wanted to deliver the highlights straight to you ⬇️

The Median Price 📈 

The median price was $280,000 for single-family sales in the 2nd quarter of 2018.  This marks the highest quarterly price in 11 years!

Total Number of Sales 📉 

The total number of sales is beginning to slow - down 6.9 percent when compared with the 2nd quarter of 2017.  

Days on Market 📉

The average number of days on market was down to 50.  During the 2nd quarter last year, the average was 59.  

Multifamily and Condo Sales 📈 

  • The median price & the number of sales both increased this past quarter when compared with 2017 for condos and multifamily properties.

You know what they say about real estate though... Location, Location, Location!

Check out some stats for some specific cities and towns and how the 2nd quarter of 2018 compares to the same quarter in 2017:

Warwick

  • Number of sales down 13.33% 📉
  • Median price up 5.28% 📈
  • Days on market down 12% 📉

East Greenwich

  • Number of sales down 2.5% 📉
  • Median price down 0.51% 📉
  • Days on market down 15.87% 📉

North Kingstown

  • Number of sales up 2.02% 📈
  • Median price up 4.46% 📈
  • Days on market down 27.94% 📉

Coventry

  • Number of sales down 5.81% 📉
  • Median price up 7.71% 📈
  • Days on market down 19.3% 📉

West Warwick

  • Number of sales up 3.66% 📈
  • Median price up 13.66% 📈
  • Days on market down 26.92% 📉

Lincoln

  • Number of sales down 19.64% 📉
  • Median price down 1.28% 📉
  • Days on market down 7.84% 📉

Cumberland

  • Number of sales down 14.91% 📉
  • Median price up 8.85% 📈
  • Days on market down 6% 📉

To view that statistics for all of Rhode Island's cities and towns, visit the page below ⏬

https://www.riliving.com/RealtorResources/SalesStats/Documents/2ndQ-Single2018.pdf

 

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