$4,501 Closing Credit*
$379,000
1,491 SqFt
2 Beds
•1 Full Bath
Listing Office: RE/MAX Town & Country
Is Cumberland, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cumberland has remained a Seller's Market.
Key Takeaway
Cumberland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumberland, RI
How much do homes in Cumberland, RI cost?
Median Sold Price
$485,333
$264/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,666(+9.4%)
Key Takeaway
Homes in Cumberland have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Cumberland was $485,333 in October 2024, up 9.4% from last year, and the median price per square foot was $264.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.5K | $201K | +39.1% |
| 2 Bedrooms | $350K | $405K | +15.7% |
| 3 Bedrooms | $450K | $480K | +6.7% |
| 4 Bedrooms | $631.5K | $634.5K | 0.5% |
| 5+ Bedrooms | $520.2K | $570K | +9.6% |
Summary: Cumberland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.1%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Manville | $325.7K | $410K | +25.9% |
| Central Falls | $422.5K | $465.5K | +10.2% |
| Cumberland | $443.6K | $485.3K | +9.4% |
| Lincoln | $449.9K | $467.7K | +4.0% |
Housing Supply in Cumberland, RI
How many homes are available in Cumberland, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 98 | 106 | +8.2% |
Summary: The Cumberland real estate market had 106 homes for sale in October 2024, a 8.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 19 | 22 | +15.8% |
| 3 Bedrooms | 41 | 44 | +7.3% |
| 4 Bedrooms | 29 | 29 | 0.0% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Cumberland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 7.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 22 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cumberland, you could pay more than the asking price. 68.2% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Cumberland in October 2024, down by 33.3% month-over-month. Of the 22 sold homes, 18% were sold under asking, 14% were sold at asking, and 68% were sold over asking.
Days on Market for Cumberland, RI
How long does it take to sell a home in Cumberland, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 29 Days | -2.0% |
Summary: Homes in Cumberland had an average of 29 days on market in Oct 2024, down by 2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cumberland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 22 homes were sold in Cumberland; 68% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
