Is Wakefield, 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, Wakefield has remained a Seller's Market.
Housing Prices in Wakefield, RI
How much do homes in Wakefield, RI cost?
Median Sold Price
$576,000
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Wakefield was $576,000 in March 2024, down 1.6% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $305K | $267.5K | -12.3% |
2 Bedrooms | $559K | $488.7K | -12.6% |
3 Bedrooms | $590K | $562K | -4.7% |
4 Bedrooms | $745K | $723.7K | -2.9% |
5+ Bedrooms | $522K | $832.4K | +59.5% |
Summary: Wakefield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.3%, 2 bedroom homes decreased by 12.6%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 59.5%.
Median Sold Price Compared To Nearby Cities
West Kingston | $485K | $535.5K | +10.4% |
Narragansett | $743.7K | $800K | +7.6% |
South Kingstown | $582K | $581.1K | -0.2% |
Wakefield | $585.6K | $576K | -1.6% |
Housing Supply in Wakefield, RI
How many homes are available in Wakefield, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
61 | 65 | +6.6% |
Summary: The Wakefield real estate market had 65 homes for sale in March 2024, a 6.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 6 | +200.0% |
2 Bedrooms | 27 | 27 | 0.0% |
3 Bedrooms | 20 | 21 | +5.0% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Wakefield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes remained the same, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 22 | +83.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Wakefield in March 2024, up by 83.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Wakefield, RI
How long does it take to sell a home in Wakefield, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
53 Days | 39 Days | -25.7% |
Summary: Homes in Wakefield had an average of 39 days on market in Mar 2024, down by 25.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 22 homes were sold in Wakefield; 55% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.