Is North Smithfield, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, North Smithfield was a Seller's Market.
Key Takeaway
North Smithfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in North Smithfield, RI
How much do homes in North Smithfield, RI cost?
Median Sold Price
$435,000
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in North Smithfield have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in North Smithfield was $435,000 in March 2024, up 0.6% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $392.5K | N/A |
| 2 Bedrooms | $389K | $429.9K | +10.5% |
| 3 Bedrooms | $425K | $437.5K | +2.9% |
| 4 Bedrooms | $472.1K | $485K | +2.7% |
| 5+ Bedrooms | $469K | $527.5K | +12.5% |
Summary: North Smithfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Manville | $287.5K | $408K | +41.9% |
| Woonsocket | $335K | $375.3K | +12.1% |
| Lincoln | $425K | $465.5K | +9.5% |
| North Smithfield | $432.2K | $435K | +0.6% |
Housing Supply in North Smithfield, RI
How many homes are available in North Smithfield, RI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 21 | -16.0% |
Summary: The North Smithfield real estate market had 21 homes for sale in March 2024, a 16.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 2 | -66.7% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 0 | 3 | +100.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The North Smithfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Smithfield, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in North Smithfield in March 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for North Smithfield, RI
How long does it take to sell a home in North Smithfield, RI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 9 Days | -48.8% |
Summary: Homes in North Smithfield had an average of 9 days on market in Mar 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Smithfield are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in North Smithfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
