Is Newport County, 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, Newport County has remained a Seller's Market.
Housing Prices in Newport County, RI
How much do homes in Newport County, RI cost?
Median Sold Price
$704,557
$391/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Newport County was $704,557 in March 2024, up 6.9% from last year, and the median price per square foot was $391.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $404.5K | $425K | +5.1% |
2 Bedrooms | $493.1K | $585K | +18.6% |
3 Bedrooms | $627.9K | $675K | +7.5% |
4 Bedrooms | $810K | $918.8K | +13.4% |
5+ Bedrooms | $1.2M | $1.4M | +18.0% |
Summary: Newport County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Counties
Newport County | $658.8K | $704.5K | +6.9% |
Bristol County | $449.8K | $478.9K | +6.5% |
Housing Supply in Newport County, RI
How many homes are available in Newport County, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
242 | 269 | +11.2% |
Summary: The Newport County real estate market had 269 homes for sale in March 2024, a 11.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 13 | +8.3% |
2 Bedrooms | 52 | 65 | +25.0% |
3 Bedrooms | 97 | 96 | -1.0% |
4 Bedrooms | 47 | 56 | +19.1% |
5+ Bedrooms | 34 | 39 | +14.7% |
Summary: The Newport County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 14.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 69 | +40.8% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 69 homes were sold or pending in Newport County in March 2024, up by 40.8% month-over-month. Of the 69 sold homes, 59% were sold under asking, 13% were sold at asking, and 28% were sold over asking.
Days on Market for Newport County, RI
How long does it take to sell a home in Newport County, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
77 Days | 58 Days | -24.7% |
Summary: Homes in Newport County had an average of 58 days on market in Mar 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 69 homes were sold in Newport County; 36% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.