Is Cranston, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cranston has remained a Seller's Market.
Key Takeaway
Cranston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cranston, RI
How much do homes in Cranston, RI cost?
Median Sold Price
$409,416
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cranston have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Cranston was $409,416 in April 2024, up 9.2% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $186K | $235K | +26.3% |
| 2 Bedrooms | $310K | $339.5K | +9.5% |
| 3 Bedrooms | $375K | $410.2K | +9.4% |
| 4 Bedrooms | $410K | $439K | +7.1% |
| 5+ Bedrooms | $465K | $520K | +11.8% |
Summary: Cranston housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.3%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 11.8%.
Median Sold Price Compared To Nearby Cities
| Providence | $393.2K | $443.2K | +12.7% |
| Warwick | $340.8K | $384.1K | +12.7% |
| Cranston | $375K | $409.4K | +9.2% |
| West Warwick | $332K | $358.5K | +8.0% |
| Johnston | $379.9K | $400K | +5.3% |
Housing Supply in Cranston, RI
How many homes are available in Cranston, RI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 165 | 193 | +17.0% |
Summary: The Cranston real estate market had 193 homes for sale in April 2024, a 17.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 33 | 37 | +12.1% |
| 3 Bedrooms | 87 | 97 | +11.5% |
| 4 Bedrooms | 29 | 38 | +31.0% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Cranston housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 31%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
41 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cranston, you could pay more than the asking price. 66.1% of homes here sold above asking price last month.
Summary: A total of 62 homes were sold or pending in Cranston in April 2024, up by 10.7% month-over-month. Of the 62 sold homes, 27% were sold under asking, 6% were sold at asking, and 66% were sold over asking.
Days on Market for Cranston, RI
How long does it take to sell a home in Cranston, RI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 29 Days | 0.1% |
Summary: Homes in Cranston had an average of 29 days on market in Apr 2024, up by 0.1% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cranston are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 62 homes were sold in Cranston; 71% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
