Is Newport, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
Since last year, Newport has remained a Seller's Market.
Key Takeaway
Newport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Newport, RI cost?
Median Sold Price
$780,000
$544/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
+$79,666(+11.4%)
Key Takeaway
Homes in Newport have sold for 11.4% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | $359K | $428.5K | +19.4% |
| 2 Bedrooms | $537.5K | $625K | +16.3% |
| 3 Bedrooms | $672K | $805K | +19.8% |
| 4 Bedrooms | $850K | $900K | +5.9% |
| 5+ Bedrooms | $1.1M | $1.1M | +4.5% |
Median Sold Price Compared To Nearby Cities
| Jamestown | $830K | $986.2K | +18.8% |
| Middletown | $607K | $697.5K | +14.9% |
| Newport | $700.3K | $780K | +11.4% |
How many homes are available in Newport, RI?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 97 | 118 | +21.6% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 18 | 21 | +16.7% |
| 2 Bedrooms | 19 | 19 | 0.0% |
| 3 Bedrooms | 26 | 30 | +15.4% |
| 4 Bedrooms | 17 | 25 | +47.1% |
| 5+ Bedrooms | 17 | 23 | +35.3% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 17 | 20 | +17.6% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newport, you may be able to get a good deal. 55% of homes here sold below asking price last month.
How long does it take to sell a home in Newport, RI?
How long does it take to sell a home in Newport, RI?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 31 Days | 40 Days | +27.2% |
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Newport has remained consistent over time.
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