Is North Kingstown, 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, North Kingstown has remained a Seller's Market.
Key Takeaway
North Kingstown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Kingstown, RI
How much do homes in North Kingstown, RI cost?
Median Sold Price
$570,000
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in North Kingstown has remained the same since last year.
Summary: The median home sold price in North Kingstown was $570,000 in May 2024, up 0.5% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $264.5K | $299K | +13.0% |
| 2 Bedrooms | $460K | $407.5K | -11.4% |
| 3 Bedrooms | $513.8K | $589K | +14.6% |
| 4 Bedrooms | $788K | $822K | +4.3% |
| 5+ Bedrooms | $750K | $1.7M | +133.3% |
Summary: North Kingstown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 133.3%.
Median Sold Price Compared To Nearby Cities
| Saunderstown | $750K | $835K | +11.3% |
| Warwick | $346.9K | $385K | +11.0% |
| East Greenwich | $581K | $643.3K | +10.7% |
| North Kingstown | $567.3K | $570K | 0.5% |
| South Kingstown | $610K | $600K | -1.6% |
Housing Supply in North Kingstown, RI
How many homes are available in North Kingstown, RI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 108 | +35.0% |
Summary: The North Kingstown real estate market had 108 homes for sale in May 2024, a 35.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 21 | 30 | +42.9% |
| 3 Bedrooms | 32 | 42 | +31.3% |
| 4 Bedrooms | 22 | 30 | +36.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The North Kingstown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 29 | +81.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Kingstown, you could pay more than the asking price. 48.3% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in North Kingstown in May 2024, up by 81.3% month-over-month. Of the 29 sold homes, 34% were sold under asking, 17% were sold at asking, and 48% were sold over asking.
Days on Market for North Kingstown, RI
How long does it take to sell a home in North Kingstown, RI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 17 Days | -44.2% |
Summary: Homes in North Kingstown had an average of 17 days on market in May 2024, down by 44.2% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Kingstown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 29 homes were sold in North Kingstown; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
