Is Newport County, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Newport County has remained a Seller's Market.
Housing Prices in Newport County, RI
How much do homes in Newport County, RI cost?
Median Sold Price
$715,120
$395/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Newport County was $715,120 in May 2024, up 6% from last year, and the median price per square foot was $395.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $404.5K | $440K | +8.8% |
2 Bedrooms | $502.5K | $586.6K | +16.7% |
3 Bedrooms | $649.2K | $682.5K | +5.1% |
4 Bedrooms | $860K | $918.8K | +6.8% |
5+ Bedrooms | $1.1M | $1.5M | +30.4% |
Summary: Newport County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 30.4%.
Median Sold Price Compared To Nearby Counties
Bristol County | $449.9K | $486K | +8.0% |
Newport County | $674.5K | $715.1K | +6.0% |
Housing Supply in Newport County, RI
How many homes are available in Newport County, RI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
302 | 380 | +25.8% |
Summary: The Newport County real estate market had 380 homes for sale in May 2024, a 25.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 17 | +54.5% |
2 Bedrooms | 71 | 94 | +32.4% |
3 Bedrooms | 123 | 126 | +2.4% |
4 Bedrooms | 62 | 96 | +54.8% |
5+ Bedrooms | 35 | 47 | +34.3% |
Summary: The Newport County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 54.5%, 2 bedroom homes increased by 32.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 54.8%, and 5+ bedroom homes increased by 34.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
60 | 71 | +18.3% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Summary: A total of 71 homes were sold or pending in Newport County in May 2024, up by 18.3% month-over-month. Of the 71 sold homes, 32% were sold under asking, 21% were sold at asking, and 46% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 42 Days | -6.9% |
Summary: Homes in Newport County had an average of 42 days on market in May 2024, down by 6.9% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 71 homes were sold in Newport County; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.