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Smithfield Housing Market Report December 2024•Providence County, Rhode Island
Housing Prices in Smithfield, RI
How much do homes in Smithfield, RI cost?
Housing Market Conditions
Is Smithfield, RI a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
Smithfield is a Seller's Market
Difference Since December 2023
Since last year, Smithfield has remained a Seller's Market.
Insight
Smithfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$485,000$276/SqFt
+$70,000
+16.9%
Based on all homes sold in the last 12 months
Insight
Homes in Smithfield have sold for 16.9% more than they did a year ago.
Summary: The median home sold price in Smithfield was $485,000 in December 2024, up 16.9% from last year, and the median price per square foot was $276.
Median Sold Price By City
| City | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| Greenville | $370K | $507.5K | +37.2% |
| Smithfield | $415K | $485K | +16.9% |
| Johnston | $390K | $440.7K | +13.0% |
| Lincoln | $455K | $482.5K | +6.0% |
| North Providence | $365K | $365K | 0.0% |
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $239.9K | $244.5K | +1.9% |
| 22 Bedrooms | $330K | $393.5K | +19.2% |
| 33 Bedrooms | $470K | $521K | +10.9% |
| 44 Bedrooms | $510K | $575K | +12.7% |
| 55+ Bedrooms | $452.5K | $650K | +43.6% |
Summary: Smithfield housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +1.9%. The home price for 2 bedroom homes increased by +19.2%. The home price for 3 bedroom homes increased by +10.9%. The home price for 4 bedroom homes increased by +12.7%. The home price for 5 bedroom homes increased by +43.6%.
Housing supply in Smithfield, RI
How many homes are available in Smithfield, RI?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 44Last MonthDec 2024 | ||
| 582 months agoNov 2024 | -24.1 % Change MoMNov – Dec |
Summary: The Smithfield real estate market had 44 homes for sale in Dec 2024, a 24.1 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 14Last MonthDec 2024 | ||
| 192 months agoNov 2024 | -26.3 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 2 | 0 | -100.0% |
| 22 Bedrooms | 17 | 13 | -23.5% |
| 33 Bedrooms | 18 | 14 | -22.2% |
| 44 Bedrooms | 20 | 16 | -20.0% |
| 55+ Bedrooms | 1 | 1 | 0.0% |
Summary: Smithfield housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes decreased by -23.5%. The inventory for 3 bedroom homes decreased by -22.2%. The inventory for 4 bedroom homes decreased by -20.0%. The inventory for 5 bedroom homes remained the same.
Asking Price vs. Sold Price
How much do homes in Smithfield, RI cost?
Over Asking Price5 Homes
At Asking Price2 Homes
Under Asking Price7 Homes
Insight
If you're buying a home in Smithfield, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Smithfield in December 2024, down by 26.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and and 36% were sold over asking.
Days on Market for Smithfield, RI
How long does it take to sell a home in Smithfield, RI?
Breakdown of Home Sale Times
Under 30 Days7 Homes
30 – 90 Days7 Homes
Over 90 Days0 Home
Insight
Many homes in Smithfield are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 14 homes were sold in Smithfield; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 27 DaysThis YearDec 2024 | ||
| 25 Days1 year agoDec 2023 | +7.9 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in Smithfield had an average listing age of 27 days in Dec 2024, up by 7.9% compared to the previous year.
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Newest Listings in Smithfield, RI
What homes are available in Smithfield, RI?
New - 7 days on RocketBackup offers
$4,619 Closing Credit¹
Listing Office: Citylight Homes
$6,828 Closing Credit¹
Listing Office: HomeSmart Professionals
$4,749 Closing Credit¹
Listing Office: Century 21 The Seyboth Team
$5,641 Closing Credit¹
Listing Office: Century 21 Limitless PRG
Backup offers
$5,332 Closing Credit¹
Listing Office: The Greene Realty Group
Backup offers
$10,000 Closing Credit¹
Listing Office: HomeSmart Professionals
$5,201 Closing Credit¹
Listing Office: HomeSmart Professionals
$3,325 Closing Credit¹
Listing Office: Century 21 The Seyboth Team
$4,501 Closing Credit¹
Listing Office: HomeSmart Professionals
Listing Office: Byrnes Real Estate Group
$5,699 Closing Credit¹
Listing Office: RE/MAX Preferred
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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
Disclaimer: The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than this broker are marked with the MLS logo and detailed information about them includes the name of the listing brokers. The purchase price of housing stock as shown on this website may vary depending on factors such as fees, commissions, price negotiations, home inspection results, market conditions, etc. This website in no way warrants or represents that submitting an offer to purchase a property for the list price will result in a sale at that price. Please consult with your REALTOR® to discuss how these variations may affect your real estate transaction. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable, but is neither guaranteed nor independently verified. Interested parties must make their own inquiries. Copyright © 2025 State-Wide MLS, Inc. All rights reserved.
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.
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.