Is Cranston, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cranston has remained a Seller's Market.
Key Takeaway
Cranston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cranston, RI
How much do homes in Cranston, RI cost?
Median Sold Price
$405,833
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cranston have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Cranston was $405,833 in March 2024, up 8.2% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $235K | -4.1% |
| 2 Bedrooms | $300K | $344.5K | +14.8% |
| 3 Bedrooms | $375K | $410K | +9.3% |
| 4 Bedrooms | $410K | $435K | +6.1% |
| 5+ Bedrooms | $465K | $517.5K | +11.3% |
Summary: Cranston housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Providence | $390.6K | $433.7K | +11.1% |
| Warwick | $344.2K | $380K | +10.4% |
| Cranston | $374.9K | $405.8K | +8.2% |
| Johnston | $375K | $399.9K | +6.6% |
| West Warwick | $330K | $350K | +6.1% |
Housing Supply in Cranston, RI
How many homes are available in Cranston, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 159 | 155 | -2.5% |
Summary: The Cranston real estate market had 155 homes for sale in March 2024, a 2.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 29 | 29 | 0.0% |
| 3 Bedrooms | 82 | 83 | +1.2% |
| 4 Bedrooms | 28 | 29 | +3.6% |
| 5+ Bedrooms | 18 | 12 | -33.3% |
Summary: The Cranston housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 47 | 52 | +10.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranston, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 52 homes were sold or pending in Cranston in March 2024, up by 10.6% month-over-month. Of the 52 sold homes, 25% were sold under asking, 13% were sold at asking, and 62% were sold over asking.
Days on Market for Cranston, RI
How long does it take to sell a home in Cranston, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 26 Days | 19 Days | -29.0% |
Summary: Homes in Cranston had an average of 19 days on market in Mar 2024, down by 29% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cranston are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 52 homes were sold in Cranston; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.