Is Newport County, RI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Newport County is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Newport County has remained a Seller's Market.

Key Takeaway

Newport County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$45,694(+6.9%)

Key Takeaway

Homes in Newport County have sold for 6.9% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $404.5K$425K
+5.1%
2 $493.1K$585K
+18.6%
3 $627.9K$675K
+7.5%
4 $810K$918.8K
+13.4%
5+ $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
+6.9%
Bristol County
+6.5%

Housing Supply in Newport County, RI

How many homes are available in Newport County, RI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
242269+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

# BEDSFeb 2024Mar 2024CHANGE
1 1213
+8.3%
2 5265
+25.0%
3 9796
-1.0%
4 4756
+19.1%
5+ 3439
+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 2024Mar 2024CHANGE
4969+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newport County, you may be able to get a good deal. 59.4% of homes here sold below asking price last month.

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 2023Mar 2024CHANGE
77 Days58 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Newport County has remained consistent over time.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Newport County, RI

Nearby Markets to Newport County, RI

What housing markets are near Newport County, RI?