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 June 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

$717,040

$404/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$42,040(+6.2%)

Key Takeaway

Homes in Newport County have sold for 6.2% more than they did a year ago.

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

# BEDSJun 2023Jun 2024CHANGE
1 $399K$475K
+19.0%
2 $520K$582.5K
+12.0%
3 $657.3K$688.9K
+4.8%
4 $880K$960K
+9.1%
5+ $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
+8.9%
Newport County
+6.2%

Housing Supply in Newport County, RI

How many homes are available in Newport County, RI?

Number of Homes For Sale

May 2024Jun 2024CHANGE
373390+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

# BEDSMay 2024Jun 2024CHANGE
1 1721
+23.5%
2 9193
+2.2%
3 126129
+2.4%
4 9198
+7.7%
5+ 4849
+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 2024Jun 2024CHANGE
7572-4.0%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

30 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Newport County, you could pay more than the asking price. 41.7% of homes here sold above asking price last month.

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 2023Jun 2024CHANGE
55 Days38 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Newport County are selling fast, if you're buying plan to act quickly.

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.

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

Report Updated 26 Days Ago

Newest Listings in Newport County, RI

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