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Cranston Housing Market Report December 2024•Providence County, Rhode Island
Housing Prices in Cranston, RI
How much do homes in Cranston, RI cost?
Housing Market Conditions
Is Cranston, RI a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Cranston is a Seller's Market
Difference Since December 2023
Since last year, Cranston has remained a Seller's Market.
Cranston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in Cranston have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Cranston was $440,000 in December 2024, up 9.4% from last year, and the median price per square foot was $259.
Median Sold Price By City
City | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
Providence | $425.4K | $490.4K | +15.3% |
West Warwick | $340.4K | $390K | +14.6% |
Johnston | $390K | $440.7K | +13.0% |
Cranston | $402.1K | $440K | +9.4% |
Warwick | $370K | $400K | +8.1% |
Median Sold Price By Bedrooms
Beds | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
11 Bedroom | $260K | $195K | -25.0% |
22 Bedrooms | $339K | $360K | +6.2% |
33 Bedrooms | $406.8K | $435.5K | +7.0% |
44 Bedrooms | $432K | $512.5K | +18.6% |
55+ Bedrooms | $497.5K | $570K | +14.6% |
Summary: Cranston housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -25.0%. The home price for 2 bedroom homes increased by +6.2%. The home price for 3 bedroom homes increased by +7.0%. The home price for 4 bedroom homes increased by +18.6%. The home price for 5 bedroom homes increased by +14.6%.
Housing supply in Cranston, RI
How many homes are available in Cranston, RI?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
219Last MonthDec 2024 | ||
2382 months agoNov 2024 | -8.0 % Change MoMNov – Dec |
Summary: The Cranston real estate market had 219 homes for sale in Dec 2024, a 8.0 % decrease compared to Nov 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
69Last MonthDec 2024 | ||
582 months agoNov 2024 | +19.0 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
Beds | Nov 2024 | Dec 2024 | Change MoM |
---|---|---|---|
11 Bedroom | 4 | 4 | 0.0% |
22 Bedrooms | 45 | 40 | -11.1% |
33 Bedrooms | 117 | 108 | -7.7% |
44 Bedrooms | 48 | 49 | +2.1% |
55+ Bedrooms | 24 | 18 | -25.0% |
Summary: Cranston housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -11.1%. The inventory for 3 bedroom homes decreased by -7.7%. The inventory for 4 bedroom homes increased by +2.1%. The inventory for 5 bedroom homes decreased by -25.0%.
Asking Price vs. Sold Price
How much do homes in Cranston, RI cost?
Over Asking Price39 Homes
At Asking Price8 Homes
Under Asking Price22 Homes
If you're buying a home in Cranston, you could pay more than the asking price. 56.5% of homes here sold above asking price last month.
Summary: A total of 69 homes were sold or pending in Cranston in December 2024, up by 19.0% month-over-month. Of the 69 sold homes, 32% were sold under asking, 12% were sold at asking, and and 57% were sold over asking.
Days on Market for Cranston, RI
How long does it take to sell a home in Cranston, RI?
Breakdown of Home Sale Times
Under 30 Days39 Homes
30 – 90 Days27 Homes
Over 90 Days3 Homes
Many homes in Cranston are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 69 homes were sold in Cranston; 57% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
31 DaysThis YearDec 2024 | ||
31 Days1 year agoDec 2023 | +0.6 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Cranston had an average listing age of 31 days in Dec 2024, up by 0.6% compared to the previous year.
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Newest Listings in Cranston, RI
What homes are available in Cranston, RI?
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MLS Disclaimers and Copyright
Based on information from Rhode Island State Wide MLS, for the period 01/01/2023 - 01/01/2025
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.