$10,000 Closing Credit*
$1,625,000
1,871 SqFt
2 Beds
•2 Full Baths, 1 Partial
Listing Office: Gustave White Sotheby's Realty
Is Newport County, 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, Newport County has remained a Seller's Market.
Key Takeaway
Newport County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newport County, RI
How much do homes in Newport County, RI cost?
Median Sold Price
$749,124
$415/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$74,124(+11.0%)
Key Takeaway
Homes in Newport County have sold for 11% more than they did a year ago.
Summary: The median home sold price in Newport County was $749,124 in October 2024, up 11% from last year, and the median price per square foot was $415.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $430K | $480K | +11.6% |
| 2 Bedrooms | $532.5K | $603.1K | +13.3% |
| 3 Bedrooms | $625K | $683.6K | +9.4% |
| 4 Bedrooms | $918.8K | $1.0M | +12.1% |
| 5+ Bedrooms | $1.3M | $1.6M | +25.9% |
Summary: Newport County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes increased by 25.9%.
Median Sold Price Compared To Nearby Counties
| Newport County | $675K | $749.1K | +11.0% |
| Bristol County | $460.1K | $503K | +9.3% |
Housing Supply in Newport County, RI
How many homes are available in Newport County, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 415 | 398 | -4.1% |
Summary: The Newport County real estate market had 398 homes for sale in October 2024, a 4.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 22 | +29.4% |
| 2 Bedrooms | 114 | 98 | -14.0% |
| 3 Bedrooms | 143 | 145 | +1.4% |
| 4 Bedrooms | 85 | 72 | -15.3% |
| 5+ Bedrooms | 56 | 61 | +8.9% |
Summary: The Newport County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 29.4%, 2 bedroom homes decreased by 14%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 15.3%, and 5+ bedroom homes increased by 8.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 93 | 95 | +2.2% |
Asking Price vs. Sold Price
42 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newport County, you may be able to get a good deal. 44.2% of homes here sold below asking price last month.
Summary: A total of 95 homes were sold or pending in Newport County in October 2024, up by 2.2% month-over-month. Of the 95 sold homes, 44% were sold under asking, 26% were sold at asking, and 29% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 62 Days | 41 Days | -33.3% |
Summary: Homes in Newport County had an average of 41 days on market in Oct 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newport County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 95 homes were sold in Newport County; 47% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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