Is Newport County, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$717,040
$404/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Newport County was $717,040 in June 2024, up 6.2% from last year, and the median price per square foot was $404.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $399K | $475K | +19.0% |
2 Bedrooms | $520K | $582.5K | +12.0% |
3 Bedrooms | $657.3K | $688.9K | +4.8% |
4 Bedrooms | $880K | $960K | +9.1% |
5+ Bedrooms | $1.1M | $1.5M | +30.4% |
Summary: Newport County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 30.4%.
Median Sold Price Compared To Nearby Counties
Bristol County | $450.1K | $489.9K | +8.9% |
Newport County | $675K | $717K | +6.2% |
Housing Supply in Newport County, RI
How many homes are available in Newport County, RI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
373 | 390 | +4.6% |
Summary: The Newport County real estate market had 390 homes for sale in June 2024, a 4.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 21 | +23.5% |
2 Bedrooms | 91 | 93 | +2.2% |
3 Bedrooms | 126 | 129 | +2.4% |
4 Bedrooms | 91 | 98 | +7.7% |
5+ Bedrooms | 48 | 49 | +2.1% |
Summary: The Newport County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.5%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 2.1%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
75 | 72 | -4.0% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 72 homes were sold or pending in Newport County in June 2024, down by 4.0% month-over-month. Of the 72 sold homes, 40% were sold under asking, 18% were sold at asking, and 42% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
55 Days | 38 Days | -30.2% |
Summary: Homes in Newport County had an average of 38 days on market in Jun 2024, down by 30.2% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During June 2024, 72 homes were sold in Newport County; 56% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.