Is Wakefield, 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, Wakefield has remained a Seller's Market.
Housing Prices in Wakefield, RI
How much do homes in Wakefield, RI cost?
Median Sold Price
$582,000
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Wakefield was $582,000 in April 2024, down 0.2% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $322.5K | $467K | +44.8% |
2 Bedrooms | $559K | $510K | -8.8% |
3 Bedrooms | $580K | $565K | -2.6% |
4 Bedrooms | $710K | $740K | +4.2% |
5+ Bedrooms | $593.3K | $699.9K | +17.9% |
Summary: Wakefield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.8%, 2 bedroom homes decreased by 8.8%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
West Kingston | $492.4K | $546K | +10.9% |
Narragansett | $732.5K | $797.4K | +8.9% |
Kingston | $581K | $608.5K | +4.7% |
South Kingstown | $582.1K | $587.8K | +1.0% |
Wakefield | $582.8K | $582K | -0.2% |
Housing Supply in Wakefield, RI
How many homes are available in Wakefield, RI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
68 | 69 | +1.5% |
Summary: The Wakefield real estate market had 69 homes for sale in April 2024, a 1.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 10 | +66.7% |
2 Bedrooms | 28 | 25 | -10.7% |
3 Bedrooms | 23 | 17 | -26.1% |
4 Bedrooms | 9 | 14 | +55.6% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Wakefield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes decreased by 26.1%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 15 | -31.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Wakefield in April 2024, down by 31.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
30 Days | 40 Days | +30.7% |
Summary: Homes in Wakefield had an average of 40 days on market in Apr 2024, up by 30.7% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in Wakefield; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.