$3,750,000
1,476 SqFt
5 Beds
•2 Full Baths, 1 Partial
Listing Office: Sullivan Sotheby's Intl.Realty
Is New Shoreham, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
At the same time last year, New Shoreham was a Neutral Market.
Key Takeaway
New Shoreham is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Shoreham, RI
How much do homes in New Shoreham, RI cost?
Median Sold Price
$1,562,000
$727/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
-$63,000(-3.9%)
Key Takeaway
Homes in New Shoreham have sold for 3.9% less than they did a year ago.
Summary: The median home sold price in New Shoreham was $1,562,000 in August 2024, down 3.9% from last year, and the median price per square foot was $727.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $492.5K | N/A |
| 2 Bedrooms | $1.0M | $1.1M | +9.5% |
| 3 Bedrooms | $1.4M | $1.4M | -1.7% |
| 4 Bedrooms | $1.6M | $2.2M | +37.4% |
| 5+ Bedrooms | $2.8M | $2.2M | -20.8% |
Summary: New Shoreham housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 37.4%, and 5+ bedroom homes decreased by 20.8%.
Median Sold Price Compared To Nearby Cities
| New Shoreham | $1.6M | $1.5M | -3.9% |
| Block Island | $1.6M | $1.5M | -3.9% |
Housing Supply in New Shoreham, RI
How many homes are available in New Shoreham, RI?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The New Shoreham real estate market had 20 homes for sale in August 2024, a 4.8% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The New Shoreham housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Shoreham, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in New Shoreham in August 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for New Shoreham, RI
How long does it take to sell a home in New Shoreham, RI?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 123 Days | 295 Days | +138.5% |
Summary: Homes in New Shoreham had an average of 295 days on market in Aug 2024, up by 138.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in New Shoreham are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During August 2024, 1 homes were sold in New Shoreham; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
