Newport, RI Homes for Sale & Real Estate Listings

In September 2024, Newport saw a 3.4% increase in home prices compared to the previous year, with the median price rising to $870K. Homes in Newport are selling faster, averaging 44 days on the market, down from 55 days last year, signaling a stronger demand. However, the number of homes sold dipped slightly, with 27 homes sold this September compared to 30 last year. Notably, the median price per square foot surged by 12.2%, now reaching $635, reflecting both limited inventory and the premium buyers are willing to pay for Newport's desirable location and lifestyle.

Newport's housing market is moderately competitive, with homes typically selling in about 43 days. While some properties receive multiple offers, the average home sells for approximately 3% below the list price and goes pending within that same 43-day period. In contrast, hot homes—those in high demand—can sell around the list price and go pending in as little as 19 days, reflecting the area's appeal to eager buyers.

People are relocating to Newport from various regions, with 3% of homebuyers nationwide searching for homes in Newport from outside metropolitan areas. Among these, New York homebuyers show the most interest in moving to Newport, followed by those from Hartford and Springfield. This trend highlights Newport's growing appeal, especially for those looking to transition from larger cities to a coastal, more relaxed lifestyle.