This Week's Real Estate Market Report
Portsmouth, RI 02871
Single-Family Homes
The Hogan Associates Real Estate Team | 401-845-9500 | info@hoganassociatesre.com
Portsmouth, RI 02871
Fri Jul 01 2022
This week the median list price for Portsmouth, RI 02871 is $1,300,000 with the market action index hovering around 48. This is less than last month's market action index of 50. Inventory has increased to 54.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,300,000 | |
| Median Price of New Listings | $649,900 | |
| Per Square Foot | $440 | |
| Average Days on Market | 75 | |
| Median Days on Market | 21 | |
| Price Decreased | 15% | |
| Price Increased | 9% | |
| Relisted | 15% | |
| Inventory | 54 | |
| Median Rent | ||
| Market Action | 48 | |
| Strong Seller's Market | ||
Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,900,000 | 3,600 | 1 - 2.5 acres | 4 | 3.5 | 2 | 1 | 0 | 77 |
| $1,400,000 | 3,210 | 6,500 - 8,000 sqft | 4 | 3.5 | 0 | 0 | 0 | 7 |
| $820,000 | 2,326 | 0.25 - 0.5 acre | 3 | 2.5 | 26 | 2 | 0 | 21 |
| $537,500 | 1,292 | 6,500 - 8,000 sqft | 3 | 2 | 67 | 4 | 1 | 7 |