Newport Real Estate
Find your dream home for sale in this one-of-a-kind picturesque neighborhood in Rhode Island.
Find your dream home for sale in this one-of-a-kind picturesque neighborhood in Rhode Island.
The housing market in Newport displays moderate competitiveness. Last month, the median sale price for a home stood at $763K, a decline of 3.5% compared to the previous year. Conversely, the median sale price per square foot experienced an 8.6% increase, amounting to $516.
Median Sale Price
No. of Homes Sold
Median Days on the Market
Here are some of the hottest questions our buyers and sellers are asking.
As of June 2023, Newport's median home selling price stands at $763K, showing a 3.5% drop from the previous year. Homes typically remain on the market for an average of 33 days, consistent with last year's timeframe. Sales in June this year saw a slight decrease, with 32 homes sold compared to 34 from the previous year.
The Newport real estate market is moderately competitive, with homes typically selling within 39 days. There is a fair chance of receiving multiple offers on properties. Average homes tend to sell approximately 2% under the asking price and reach pending status within the same 39-day period. High-demand properties, on the other hand, can sell for about 3% above the listing price and usually go pending within a swift 22-day timeframe.
Newport, RI is indeed a great place to live. It's a scenic coastal town with a rich history, an artistic atmosphere, and strong ties to the maritime industry, including being home to the U.S. Naval War College. Its location provides easy access to major cities like Providence and Boston. Newport, known as America's First Resort, offers a unique living experience unlike any other.
