This Week's Real Estate Market Report
Portsmouth, RI 02871
Single-Family Homes
The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com
Portsmouth, RI 02871
Mon Jul 22 2019
This week the median list price for Portsmouth, RI 02871 is $599,900 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has held steady at or around 91.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $599,900 | |
| Per Square Foot | $277 | |
| Days on Market | 136 | |
| Price Decreased | 37% | |
| Price Increased | 2% | |
| Relisted | 19% | |
| Inventory | 91 | |
| Median House Rent | ||
| Most Expensive | $5,995,000 | |
| Least Expensive | $135,000 | |
| Market Action Index Slight Seller's Advantage | 37 |
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,574,250 | 3,768 | 1 - 2.5 acres | 4 | 3 | 15 | 2 | 0 | 227 |
| $739,000 | 2,808 | 0.5 - 1 acre | 4 | 3 | 34 | 4 | 0 | 141 |
| $529,900 | 2,152 | 0.5 - 1 acre | 3 | 2 | 49 | 1 | 1 | 97 |
| $299,000 | 1,152 | 6,500 - 8,000 sqft | 3 | 1 | 63 | 1 | 2 | 81 |