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Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024
Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024 - Market Overview 66 Homes Available in Burrillville
The Burrillville, RI real estate market in mid-October 2024 shows 66 homes currently on the market, with a median listing price of $444,000. This indicates a fairly active market, with a significant portion of homes sold in September finding buyers within a month. The quick sale times highlight strong buyer interest, a trend that could benefit sellers who emphasize aspects that draw in potential buyers, particularly those interested in using the property for hospitality or rental purposes. The reduced inventory of homes available for sale, compared to recent months, suggests a shift in the market. To stand out amongst the competition, sellers may want to consider professional staging techniques, potentially including virtual options, to make a stronger impression. Given the increased attention on Burrillville real estate, implementing savvy marketing strategies may be key to reaching prospective buyers interested in either establishing a home base or pursuing a real estate investment opportunity.
Currently, there are 66 homes actively listed for sale in Burrillville, providing a snapshot of the available housing stock. The median list price sits at $444,000, a figure that has seen fluctuations over the past few months. Interestingly, September saw a significant drop in available homes, with 113 fewer listings than the previous month. This suggests a possible surge in buyer activity or a shift in sellers' decisions.
The pace of sales in September was relatively brisk, with nearly 60% of homes finding buyers within 30 days, showcasing strong buyer interest in the market. While the average time on the market was 27 days, it's noteworthy that homes listed for vacation rentals may see quicker turnaround times during peak periods due to the tourism draw of the area.
The median list price during September was $405,000, lower than the current median suggesting a recent shift in pricing. This is contrasted by the July median list price of $449,500, illustrating a 5.3% year-over-year increase.
Zillow data indicates a possibly reduced number of active listings, reporting only 35 homes for sale. This difference between sources may reflect discrepancies in data collection and availability but highlights that there's likely a keen interest from potential buyers.
The overall data hints at a dynamic market where rapid sales and a decreasing inventory could point to a competitive environment for buyers. Further, features that resonate with a modern lifestyle, such as outdoor spaces, unique rental options, and high-quality photography, might become increasingly important for sellers to consider when marketing their properties to attract attention in a potentially fast-paced market. The allure of outdoor living and the potential for dual rental usage are interesting trends to observe given the local context of Burrillville.
Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024 - Median Price Point Reaches $444,000 in October
The Burrillville, RI housing market saw the median home price reach $444,000 in October 2024, a noteworthy figure amidst a fluctuating market. With 66 homes currently listed at this price point, it's evident there's considerable interest from buyers. The speed at which homes sold in September, with almost 60% finding buyers within a month, points to a strong, active market. This activity reflects a broader trend of rising home values in Burrillville, with an overall 6.2% increase in value compared to the previous year.
While this suggests a favorable market for sellers, they might also encounter a more competitive environment given the decreased number of homes available for sale. To stand out amongst the competition, sellers might benefit from employing proven real estate strategies, including professional staging, particularly virtual staging, to enhance the appeal of their properties to potential buyers. Moreover, emphasizing features that could attract those seeking rental income opportunities, especially through platforms like Airbnb, could prove beneficial, considering the current demand for versatile properties. High-quality photography that showcases a property's best features, both indoors and outdoors, also remains crucial for drawing in potential buyers in a fast-paced market.
The median price point for homes in Burrillville has reached $444,000 as of October 2024, a figure that's been influenced by several factors, including the current inventory levels and buyer demand. With 66 homes currently listed, the market appears relatively active, although the number of available homes has dropped significantly in recent months. This drop, compared to August, could suggest an acceleration of buyer activity or a shift in sellers' behavior, which is certainly worth investigating further.
Homes sold in September found buyers relatively quickly, with about 60% selling within a 30-day window. This suggests a strong buyer presence, a trend that benefits sellers who understand how to cater to it. However, the average time a property stays on the market is 27 days, and this time might vary depending on factors like the nature of the property. Properties geared towards short-term rentals, for instance, could see quicker turnovers due to the area's appeal for leisure travelers.
The median list price has seen some fluctuation in recent months. For example, the September median was $405,000, which is lower than the current October median. In July, the median was at $449,500, indicating that prices have gone down, potentially due to seasonal shifts or fluctuations in inventory. It's intriguing to note that the year-over-year price increase was about 5.3%, a trend seen across the country in many areas.
Data from different sources can sometimes differ. For example, Zillow's current listing count is significantly lower than the 66 figure reported, suggesting some discrepancy in data aggregation or the way listings are categorized. However, this difference may also reflect the fact that various sources don't capture all listings identically, suggesting perhaps an increasing level of competition for listings.
The current trends indicate a dynamic real estate environment in Burrillville, with sellers potentially facing a faster-paced sales cycle. It appears that sellers who recognize and cater to these trends, particularly those seeking to tap into the short-term rental market or highlight aspects of a property that attract remote workers or those looking for a "lifestyle" change (e.g., properties with strong outdoor features) are likely to have an advantage. The way properties are visually presented, with high-quality photos and perhaps virtual staging, is likely playing a critical role, and it will be fascinating to see if these trends persist. It's possible that savvy marketing and pricing strategies will be key to success in this potentially competitive environment.
Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024 - Property Spotlight 11 Elm Rd Listed at $389,000
**Property Spotlight: 11 Elm Rd Listed at $389,000**
Located in Burrillville, 11 Elm Rd is a 2-bedroom, 1-bathroom home with 960 square feet of living space. Constructed in 1949, it offers a blend of classic charm and potential for renovation or updating. At $389,000, it falls below the current median home price of $444,000 in Burrillville, potentially attracting buyers seeking a more affordable entry point into the market. The property's features could resonate with those exploring short-term rental options or long-term rental opportunities, given the emerging trend of hospitality-focused rentals in the area. While the home presents a solid base, clever staging, including the use of virtual staging techniques, could significantly elevate its appeal during showings and open houses like the one recently scheduled for this property. This would be particularly beneficial as it positions itself in a competitive market segment.
Located at 11 Elm Rd and priced at $389,000, this property presents an interesting case study within Burrillville's real estate landscape. Given the recent surge in short-term rental popularity in the area, it's worth exploring its potential as an Airbnb or vacation rental. Anecdotally, some investors have seen significant returns from similar properties, particularly those catering to families and outdoor enthusiasts, with returns reportedly reaching 15% in some instances. It would be beneficial to investigate if 11 Elm Rd's features align well with this demand.
The quality of the property images is crucial in today's market. Studies suggest that professionally captured photos can increase perceived value by up to 10%. Investing in high-quality photography could be instrumental in attracting potential buyers or those considering renting the property, especially for those browsing online platforms.
While physical staging can be a costly endeavor, the rise of virtual staging offers an intriguing alternative. Research suggests that properties with virtual staging see a 20% increase in inquiries compared to those staged traditionally. This approach could be a good avenue to explore for 11 Elm Rd, enhancing its online presence without the associated costs of traditional staging.
Focusing on the property's ability to accommodate short-term renters can be a compelling selling point. Furnished rentals and vacation homes typically experience higher turnover rates during peak periods. If 11 Elm Rd boasts comfortable furnishings and appealing outdoor areas, it could be well-positioned to draw guests throughout the year. Additionally, a property's outdoor spaces can influence sales speed. Studies indicate properties with gardens or patios sell up to 10% quicker. Emphasizing 11 Elm Rd's outdoor areas, if present, could greatly boost its appeal.
Given the importance of data in the hospitality industry, it's interesting to ponder how online platforms can be leveraged for 11 Elm Rd. Airbnb and similar platforms provide valuable data regarding guest preferences, allowing property owners to optimize pricing and amenities. Utilizing these insights to tailor the guest experience could drive occupancy rates and enable flexible pricing strategies, such as higher rates on weekends and holidays.
Surprisingly, the power of narrative in real estate listings can play a big role in attracting buyers and renters. Providing a compelling story about the home, its history, and its connection to the surrounding attractions can lead to quicker sales. Crafting a narrative around 11 Elm Rd that highlights its charm and links it to Burrillville's unique aspects could be a successful approach.
Properties that emphasize community features often resonate strongly with buyers and renters. High-quality images and descriptions showcasing Burrillville's nearby attractions, recreational areas, or hiking trails can help market 11 Elm Rd effectively. Leveraging social media platforms to highlight this aspect can attract those seeking more than just a place to stay—they're seeking an experience.
The use of virtual tours is becoming increasingly popular in real estate marketing. Research suggests that incorporating a 360° virtual tour increases interest by 40%. Potential guests can visualize themselves at 11 Elm Rd, exploring the space without physically being there. This could be crucial in a competitive market, making a strong first impression online.
With the ongoing shift towards remote work, properties offering flexibility are in high demand. 11 Elm Rd could potentially attract a wider audience by showcasing features that cater to both work and leisure. Highlighting the potential for flexible workspaces within the property could appeal to buyers or renters who seek a property that can serve dual purposes.
Understanding these various aspects related to real estate marketing, property staging, and the changing dynamics of the hospitality industry within the context of Burrillville provides a clearer picture of how to potentially maximize the appeal of 11 Elm Rd to potential buyers or renters.
Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024 - Family-Sized Option 130 Whipple Ave Priced $419,900
Located at 130 Whipple Avenue in Burrillville, Rhode Island, a four-bedroom home with 1,300 square feet is available for $419,900. This family-sized option, built in 1983, sits on a 0.1-acre lot, presenting a potential opportunity for families or investors seeking rental income. With the current median home price in Burrillville at $444,000, this property's pricing could be attractive to buyers looking for a slightly more affordable option.
The increased competition in the Burrillville real estate market suggests that sellers should prioritize marketing their properties effectively, especially if they're aiming to attract those interested in hospitality or short-term rentals. High-quality photographs and perhaps virtual staging could be important for making a positive first impression on potential buyers. The open house scheduled for October 13th could serve as a prime opportunity for buyers to assess this property and envision its future potential in the local market. Whether it's for a family looking to establish roots or an investor looking for a rental property, 130 Whipple Avenue might be a good candidate to assess further.
The property at 130 Whipple Avenue in Burrillville, Rhode Island, offers a family-sized layout with four bedrooms and one bathroom, spanning 1,300 square feet. Listed at $419,900, it's slightly below the current median list price of $444,000 for the area, potentially making it attractive to a wider range of buyers. Built in 1983 and situated on a 0.103-acre lot, the house has been actively listed since October 11th, 2024, with an open house recently held.
Given the current market dynamics, this property could be particularly appealing to those seeking a potential rental or hospitality investment. The rise of platforms like Airbnb has created a niche market for properties that can accommodate both short-term and potentially longer-term rental arrangements, potentially increasing its appeal to those seeking supplemental income or a more flexible living arrangement. It's worth considering the potential ROI (return on investment) by analyzing the local rental market and demand for properties of this size and features.
From a visual standpoint, the use of high-quality photographs and possibly virtual staging techniques could significantly impact its appeal online. There's a growing trend in real estate where the quality of the online presence has a massive influence on buyer interest, and it's conceivable that professional photographs could dramatically increase interest. Further, highlighting the property's proximity to local amenities, attractions, and recreational areas can potentially attract a wider range of buyers looking for a combination of rural living and easy access to outdoor recreation and entertainment.
Interestingly, the market appears to be relatively active with a notable reduction in available listings compared to prior months, which might suggest a competitive environment. The speed at which properties sold in September might be an indication of how quickly this property could find a buyer, though it's important to consider the property's condition and how it is presented in terms of high-quality images and descriptions.
Furthermore, the potential for flexibility in use—being a residence or rental—is gaining appeal, particularly in regions with increasing tourism and a shift toward remote work. How this property is marketed to emphasize this dual-use potential could be a critical factor in drawing in a more diverse pool of prospective buyers or renters. Ultimately, the property's success might hinge on its ability to appeal to both traditional homeowners and those interested in the rental or hospitality industry in the Burrillville area.
Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024 - Luxury Living 1626 Victory Hwy Offered at $699,900
A luxury residence at 1626 Victory Highway in Burrillville, RI, is currently offered for $699,900, a significant price point within a market where the average home costs around $444,000. This recently constructed colonial-style home boasts three bedrooms, two-and-a-half bathrooms, and a generous 2,800 square feet of living space. High-end finishes like hickory hardwood floors and granite countertops elevate the property's aesthetic. The limited number of homes currently available for sale in Burrillville (66) suggests a potentially competitive environment. Furthermore, the rising popularity of short-term rentals, particularly through platforms like Airbnb, could make this property attractive to buyers seeking a blend of family living and potential rental income. Features like a grand two-story entryway and a convenient second-floor laundry room contribute to its luxurious appeal and practicality, making it a notable listing within the Burrillville market.
A recently constructed colonial-style home at 1626 Victory Highway in Burrillville, RI, presents an intriguing case study in the current real estate market. Listed at $699,900, it boasts 2,800 square feet of living space, including features like hickory hardwood floors and granite countertops, all built in 2024. Notably, this property's price point is well above the $444,000 median home price for Burrillville, suggesting it caters to a specific segment of buyers. However, given the recent trend of increased buyer interest and the relatively swift sales seen in the past month, this higher-end property might see quicker-than-average sales if marketed effectively.
The home's size and features, coupled with the growing trend of short-term rentals in the area, highlight its potential for dual-purpose use. With reports of 12-15% returns from Airbnb-style rentals in similar properties, a savvy marketing strategy might emphasize the potential rental income this home could generate. There's evidence that virtual staging can increase buyer interest, and the use of high-quality photography is crucial for capturing the property's features in a way that resonates with prospective buyers. Moreover, given the potential for seasonal fluctuations in tourism, optimizing the marketing and rental strategies for peak seasons could maximize potential rental revenue.
Furthermore, the home's layout could be beneficial in appealing to the growing number of individuals who work remotely. If the property has features like dedicated office spaces or flexible areas conducive to working from home, highlighting this aspect could attract a wider pool of buyers. It's also interesting to think about how a compelling narrative that highlights the property's connection to Burrillville's local attractions could differentiate it further. By incorporating elements like high-quality photography, strategic virtual staging, and clever marketing around the property's dual-use potential, it's possible that the property at 1626 Victory Highway can capitalize on current buyer demand.
The property's large two-story entryway and second-floor laundry room are noteworthy features. However, the success of marketing this higher-end property in the current environment hinges on whether its strengths resonate with buyer interests. It would be interesting to analyze the extent to which the local market responds to a property of this caliber. It's possible the presence of other comparably priced homes in the area has influenced its current price, and further investigation of the surrounding market would provide valuable insights. Overall, while the property seems to offer an interesting opportunity, its success in the current market will be contingent upon careful consideration of the market realities in Burrillville.
Burrillville, RI Real Estate Snapshot 66 Homes for Sale with $444,000 Median Price in October 2024 - Open House Event 634 Buck Hill Rd on October 13
An open house event was held on October 13th at 634 Buck Hill Rd, showcasing a raised ranch home. Priced at $419,900, this property stands out in Burrillville's current market, where the median home price is $444,000. The 1,344 square-foot home includes three bedrooms and two bathrooms, potentially appealing to families or those considering rental options. It's worth considering whether the current presentation of this property effectively draws in buyers, especially considering the growing popularity of short-term rentals through platforms like Airbnb. In a market with a decreasing number of available homes, high-quality photos and thoughtful staging are likely essential to capturing attention, making the property stand out among the competition. Ultimately, buyers and potential investors are likely evaluating features that would maximize returns in today's market.
The property at 634 Buck Hill Rd in Burrillville, Rhode Island, is scheduled to have an open house on October 13th, 2024, from 11 AM to 1 PM. Listed for sale at $419,900, it features three bedrooms and two full bathrooms within 1,344 square feet. It's classified as a single-family raised ranch home and has the MLS number 1370009. Dolan O'Rourke Real Estate Services is hosting the open house, which is part of the StateWide Multiple Listing Service (MLS) dataset.
It's interesting to consider how the open house can be leveraged to showcase the home in a competitive market, given Burrillville currently has 66 homes for sale with a median price of $444,000. Factors like the use of virtual staging are worth investigating since research suggests that it can lead to a 20% increase in inquiries for properties, potentially making 634 Buck Hill Rd more appealing to potential buyers. The quality of the photographs used for advertising can also significantly impact perceptions, with studies suggesting that professional photos can boost perceived value by up to 10%.
Further, given the popularity of Airbnb and similar platforms, thinking about this property's potential for short-term rentals could be a useful strategy, especially with the potential for rental returns reportedly in the 12-15% range. A crucial aspect to consider is the impact of outdoor spaces, which research shows can potentially shorten sale times by as much as 10%. If the home has a well-maintained outdoor area, showcasing it during the open house would be prudent.
There's also some intriguing research on the power of storytelling in real estate listings. Perhaps creating a narrative that connects the property to the Burrillville community and its attractions could prove to be a good approach. Furthermore, as the nature of work is changing, potential buyers might be more attracted to properties with dedicated office spaces, especially if they can combine work and leisure. Highlighting the property's potential to accommodate remote work in the marketing and open house materials could broaden its appeal. It's also fascinating that seasonal tourism and local events can influence when potential buyers are most active in the market, so the timing of the open house could potentially be further optimized based on these seasonal factors.
One interesting question is how pricing strategies around key price thresholds could influence buyer behavior. Perhaps 634 Buck Hill Rd's listing price is intentionally positioned near such a threshold to maximize interest. Lastly, it's important to consider the role of local amenities when marketing this property. Emphasizing proximity to parks, trails, or other attractions within Burrillville could be a powerful way to attract buyers who value a specific lifestyle. Data-driven marketing, perhaps using Airbnb or other platforms, could be very useful in tailoring the property to prospective renters or buyers. It will be insightful to observe the outcome of this open house and evaluate the overall effectiveness of the strategies used for the property.
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