$10,000 Closing Credit*
$2,250,000
2,385 SqFt
4 Beds
•3 Full Baths, 1 Partial
Listing Office: HomeSmart Professionals
Is Wakefield, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Wakefield has remained a Seller's Market.
Key Takeaway
Wakefield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wakefield, RI
How much do homes in Wakefield, RI cost?
Median Sold Price
$675,020
$376/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$106,070(+18.6%)
Key Takeaway
Homes in Wakefield have sold for 18.6% more than they did a year ago.
Summary: The median home sold price in Wakefield was $675,020 in December 2024, up 18.6% from last year, and the median price per square foot was $376.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $317.4K | $392.5K | +23.6% |
| 2 Bedrooms | $562K | $630K | +12.1% |
| 3 Bedrooms | $550K | $649K | +18.0% |
| 4 Bedrooms | $757.5K | $789K | +4.2% |
| 5+ Bedrooms | $832.4K | $901K | +8.2% |
Summary: Wakefield housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Wakefield | $568.9K | $675K | +18.6% |
| South Kingstown | $569.3K | $660K | +15.9% |
| Narragansett | $750K | $842.5K | +12.3% |
| Kingston | $610.5K | $650K | +6.5% |
| West Kingston | $510.5K | $497.5K | -2.5% |
Housing Supply in Wakefield, RI
How many homes are available in Wakefield, RI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 71 | 68 | -4.2% |
Summary: The Wakefield real estate market had 68 homes for sale in December 2024, a 4.2% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 21 | 20 | -4.8% |
| 3 Bedrooms | 26 | 24 | -7.7% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Wakefield housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 14 | 24 | +71.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wakefield, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Wakefield in December 2024, up by 71.4% month-over-month. Of the 24 sold homes, 46% were sold under asking, 25% were sold at asking, and 29% were sold over asking.
Days on Market for Wakefield, RI
How long does it take to sell a home in Wakefield, RI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 39 Days | 45 Days | +16.3% |
Summary: Homes in Wakefield had an average of 45 days on market in Dec 2024, up by 16.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wakefield are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 24 homes were sold in Wakefield; 46% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
