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

Sat Jul 31 2021
This week the median list price for Portsmouth, RI 02871 is $770,000 with the market action index hovering around 54. This is less than last month's market action index of 57. Inventory has decreased to 37. Click here to stay informed with the Portsmouth market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.

Portsmouth, RI 02871

Sat Jul 31 2021
This week the median list price for Portsmouth, RI 02871 is $770,000 with the market action index hovering around 54. This is less than last month's market action index of 57. Inventory has decreased to 37. Click here to stay informed with the Portsmouth market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable.

Real-Time Market Profile

Never miss important changes in the Portsmouth market.
Median List Price $770,000
Median Price of New Listings $650,000
Per Square Foot $362
Average Days on Market 76
Median Days on Market 35
Price Decreased 30%
Price Increased 0%
Relisted 14%
Inventory 37
Median Rent $2,550
Market Action 54
Strong Seller's Market

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$1,725,000 3,737 1 - 2.5 acres 4 4 16 0 1 161
$995,000 2,740 0.5 - 1 acre 4 3 23 1 0 35
$650,000 1,578 0.5 - 1 acre 3 2 57 5 0 0
$407,000 1,561 0.25 - 0.5 acre 3 2 76 1 3 31