Is Cranston, 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, Cranston has remained a Seller's Market.
Housing Prices in Cranston, RI
How much do homes in Cranston, RI cost?
Median Sold Price
$405,833
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cranston was $405,833 in March 2024, up 8.2% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $245K | $235K | -4.1% |
2 Bedrooms | $300K | $344.5K | +14.8% |
3 Bedrooms | $375K | $410K | +9.3% |
4 Bedrooms | $410K | $435K | +6.1% |
5+ Bedrooms | $465K | $517.5K | +11.3% |
Summary: Cranston housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.1%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 11.3%.
Median Sold Price Compared To Nearby Cities
Providence | $390.6K | $433.7K | +11.1% |
Warwick | $344.2K | $380K | +10.4% |
Cranston | $374.9K | $405.8K | +8.2% |
Johnston | $375K | $399.9K | +6.6% |
West Warwick | $330K | $350K | +6.1% |
Housing Supply in Cranston, RI
How many homes are available in Cranston, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
159 | 155 | -2.5% |
Summary: The Cranston real estate market had 155 homes for sale in March 2024, a 2.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 29 | 29 | 0.0% |
3 Bedrooms | 82 | 83 | +1.2% |
4 Bedrooms | 28 | 29 | +3.6% |
5+ Bedrooms | 18 | 12 | -33.3% |
Summary: The Cranston 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 remained the same, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
47 | 52 | +10.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Summary: A total of 52 homes were sold or pending in Cranston in March 2024, up by 10.6% month-over-month. Of the 52 sold homes, 25% were sold under asking, 13% were sold at asking, and 62% were sold over asking.
Days on Market for Cranston, RI
How long does it take to sell a home in Cranston, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
26 Days | 19 Days | -29.0% |
Summary: Homes in Cranston had an average of 19 days on market in Mar 2024, down by 29% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 52 homes were sold in Cranston; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.