Home Values

02891 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$294,700

  • 2.7% 1-year change
  • 1.4% 1-year forecast

The median home value in 02891 is $294,700. 02891 home values have gone up 2.7% over the past year and Zillow predicts they will rise 1.4% within the next year. The median list price per square foot in 02891 is $223, which is lower than the Town of Westerly average of $224. The median price of homes currently listed in 02891 is $415,000 while the median price of homes that sold is $247,375. The median rent price in 02891 is $1,150, which is the same as the Town of Westerly median of $1,150.

Foreclosures will be a factor impacting home values in the next several years. In 02891 2.3 homes are foreclosed (per 10,000). This is lower than the Town of Westerly value of 2.7 and also lower than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 02891 is 5.3%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 02891 homeowners underwater on their mortgage is 11.6%, which is the same as Town of Westerly at 11.6%.

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Relative ZHVI
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02891 Market Overview

Data through Nov 30, 2014
  • $294,700 ZHVI
  • 1.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $415,000 Median listing price
  • $247,375 Median sale price (Oct 31, 2014)
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02891 Market Health

Data through Nov 30, 2014
  • 3.6/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 11.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 5.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2.3 homes 02891
2.7 homes Town of Westerly
4.2 homes United States
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Nearby Zip Codes

Name Median ZHVI
06378 $375,900
02813 $325,300
06355 $271,600
Name Median ZHVI
02812 $246,000
02832 $239,600
06379 $228,600
Name Median ZHVI
06359 $224,000
02808 $206,400
02804 $205,900

Listings & Sales

Data through Nov 30, 2014
  • $223 Median list price / sq ft
  • $191 Median sale price / sq ft (Oct 31, 2014)
  • No data Listings with price cut
24.9%
Sold below listing
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02891 Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,423 02891
    $1,425 Town of Westerly
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 8.0 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,150 Rent list price
  • No data Rent list price / sq ft
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