$4,382 Closing Credit*
$369,000
1,688 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Innovations
Is Cranston, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Cranston has remained a Seller's Market.
Key Takeaway
Cranston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cranston, RI
How much do homes in Cranston, RI cost?
Median Sold Price
$440,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$40,022(+10.0%)
Key Takeaway
Homes in Cranston have sold for 10% more than they did a year ago.
Summary: The median home sold price in Cranston was $440,000 in November 2024, up 10% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $193.5K | -25.6% |
| 2 Bedrooms | $339K | $360K | +6.2% |
| 3 Bedrooms | $402.5K | $431.9K | +7.3% |
| 4 Bedrooms | $415K | $509K | +22.7% |
| 5+ Bedrooms | $477.5K | $562.5K | +17.8% |
Summary: Cranston housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.6%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 17.8%.
Median Sold Price Compared To Nearby Cities
| Providence | $425K | $489.8K | +15.3% |
| West Warwick | $340K | $390K | +14.7% |
| Cranston | $399.9K | $440K | +10.0% |
| Warwick | $364.5K | $400K | +9.7% |
| Johnston | $394.5K | $430K | +9.0% |
Housing Supply in Cranston, RI
How many homes are available in Cranston, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 264 | 246 | -6.8% |
Summary: The Cranston real estate market had 246 homes for sale in November 2024, a 6.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 50 | 45 | -10.0% |
| 3 Bedrooms | 139 | 121 | -12.9% |
| 4 Bedrooms | 48 | 52 | +8.3% |
| 5+ Bedrooms | 24 | 24 | 0.0% |
Summary: The Cranston housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 10%, 3 bedroom homes decreased by 12.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 71 | 54 | -23.9% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranston, you could pay more than the asking price. 53.7% of homes here sold above asking price last month.
Summary: A total of 54 homes were sold or pending in Cranston in November 2024, down by 23.9% month-over-month. Of the 54 sold homes, 37% were sold under asking, 9% were sold at asking, and 54% were sold over asking.
Days on Market for Cranston, RI
How long does it take to sell a home in Cranston, RI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 27 Days | -23.7% |
Summary: Homes in Cranston had an average of 27 days on market in Nov 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cranston are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 54 homes were sold in Cranston; 59% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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