Is Little Compton, RI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Little Compton is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Little Compton was a Seller's Market.

Key Takeaway

Little Compton 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 Little Compton, RI

How much do homes in Little Compton, RI cost?

Median Sold Price

$932,500

$467/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$52,500(+6.0%)

Key Takeaway

Homes in Little Compton have sold for 6% more than they did a year ago.

Summary: The median home sold price in Little Compton was $932,500 in May 2024, up 6% from last year, and the median price per square foot was $467.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$82.5K
N/A
2 $565K$655K
+15.9%
3 $987.5K$960K
-2.8%
4 $720K$762.6K
+5.9%
5+ $1.6M$1.3M
-20.9%

Summary: Little Compton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 20.9%.

Median Sold Price Compared To Nearby Cities

Tiverton
+16.2%
Westport
+12.1%
Little Compton
+6.0%

Housing Supply in Little Compton, RI

How many homes are available in Little Compton, RI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1218+50.0%

Summary: The Little Compton real estate market had 18 homes for sale in May 2024, a 50.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 66
0.0%
4 47
+75.0%
5+ 13
+200.0%

Summary: The Little Compton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Apr 2024May 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Little Compton, 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 Little Compton in May 2024, up by 200.0% 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 Little Compton, RI

How long does it take to sell a home in Little Compton, RI?

Average Sale Time

May 2023May 2024CHANGE
44 Days5 Days-87.9%

Summary: Homes in Little Compton had an average of 5 days on market in May 2024, down by 87.9% 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Little Compton are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 3 homes were sold in Little Compton; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Little Compton, RI

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