$10,000 Closing Credit*
$1,595,000
4,492 SqFt
4 Beds
•3 Full Baths
Listing Office: Mott & Chace Sotheby's Intl.
Is Wakefield, 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, 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
$667,533
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$93,550(+16.3%)
Key Takeaway
Homes in Wakefield have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Wakefield was $667,533 in November 2024, up 16.3% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $317.4K | $392.5K | +23.6% |
| 2 Bedrooms | $576K | $620K | +7.6% |
| 3 Bedrooms | $540.4K | $647.3K | +19.8% |
| 4 Bedrooms | $765K | $801.7K | +4.8% |
| 5+ Bedrooms | $832.4K | $845K | +1.5% |
Summary: Wakefield housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.6%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 19.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Wakefield | $573.9K | $667.5K | +16.3% |
| South Kingstown | $576K | $650K | +12.8% |
| Narragansett | $750K | $837.2K | +11.6% |
| Kingston | $610K | $630K | +3.3% |
| West Kingston | $524.9K | $497.5K | -5.2% |
Housing Supply in Wakefield, RI
How many homes are available in Wakefield, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 94 | 74 | -21.3% |
Summary: The Wakefield real estate market had 74 homes for sale in November 2024, a 21.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 24 | 19 | -20.8% |
| 3 Bedrooms | 35 | 27 | -22.9% |
| 4 Bedrooms | 22 | 19 | -13.6% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The Wakefield housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 20.8%, 3 bedroom homes decreased by 22.9%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 13 | -59.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wakefield, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Wakefield in November 2024, down by 59.4% month-over-month. Of the 13 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 24 Days | -27.6% |
Summary: Homes in Wakefield had an average of 24 days on market in Nov 2024, down by 27.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 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 November 2024, 13 homes were sold in Wakefield; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
