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.
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
| 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 |