Is Newport County, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$716,321
$396/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Newport County have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Newport County was $716,321 in April 2024, up 8.6% from last year, and the median price per square foot was $396.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $394.5K | $430K | +9.0% |
| 2 Bedrooms | $499.5K | $591.6K | +18.4% |
| 3 Bedrooms | $632.1K | $680.6K | +7.7% |
| 4 Bedrooms | $850K | $917.6K | +8.0% |
| 5+ Bedrooms | $1.2M | $1.5M | +20.0% |
Summary: Newport County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Counties
| Newport County | $659.3K | $716.3K | +8.6% |
| Bristol County | $449.9K | $480.4K | +6.8% |
Housing Supply in Newport County, RI
How many homes are available in Newport County, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 260 | 299 | +15.0% |
Summary: The Newport County real estate market had 299 homes for sale in April 2024, a 15.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 11 | 0.0% |
| 2 Bedrooms | 66 | 72 | +9.1% |
| 3 Bedrooms | 96 | 121 | +26.0% |
| 4 Bedrooms | 50 | 59 | +18.0% |
| 5+ Bedrooms | 37 | 36 | -2.7% |
Summary: The Newport County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 26%, 4 bedroom homes increased by 18%, and 5+ bedroom homes decreased by 2.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 60 | -16.7% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newport County, you may be able to get a good deal. 45% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in Newport County in April 2024, down by 16.7% month-over-month. Of the 60 sold homes, 45% were sold under asking, 20% were sold at asking, and 35% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 55 Days | -11.0% |
Summary: Homes in Newport County had an average of 55 days on market in Apr 2024, down by 11% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newport County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 60 homes were sold in Newport County; 47% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
