$144,900
0.30 Acres
Land
Listing Office: Century 21 Limitless PRG
Is Cumberland, 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, 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
$500,000
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$59,000(+13.4%)
Key Takeaway
Homes in Cumberland have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Cumberland was $500,000 in November 2024, up 13.4% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $154.9K | $210.5K | +35.9% |
| 2 Bedrooms | $365K | $410K | +12.3% |
| 3 Bedrooms | $450K | $480K | +6.7% |
| 4 Bedrooms | $610K | $640K | +4.9% |
| 5+ Bedrooms | $500K | $580K | +16.0% |
Summary: Cumberland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.9%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 16%.
Median Sold Price Compared To Nearby Cities
| Cumberland | $441K | $500K | +13.4% |
| Manville | $360K | $404K | +12.2% |
| Central Falls | $432.5K | $466K | +7.7% |
| Lincoln | $450K | $475K | +5.6% |
Housing Supply in Cumberland, RI
How many homes are available in Cumberland, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 111 | 95 | -14.4% |
Summary: The Cumberland real estate market had 95 homes for sale in November 2024, a 14.4% 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 | 22 | 21 | -4.5% |
| 3 Bedrooms | 45 | 41 | -8.9% |
| 4 Bedrooms | 31 | 24 | -22.6% |
| 5+ Bedrooms | 10 | 5 | -50.0% |
Summary: The Cumberland 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 4.5%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 22.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 29 | +26.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cumberland, you could pay more than the asking price. 58.6% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Cumberland in November 2024, up by 26.1% month-over-month. Of the 29 sold homes, 31% were sold under asking, 10% were sold at asking, and 59% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 36 Days | +86.8% |
Summary: Homes in Cumberland had an average of 36 days on market in Nov 2024, up by 86.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
11 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 November 2024, 29 homes were sold in Cumberland; 59% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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