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
Thu Apr 02 2020
This week the median list price for Portsmouth, RI 02871 is $624,000 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has held steady at or around 69.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
Real-Time Market Profile
| Median List Price | $624,000 | |
| Per Square Foot | $305 | |
| Days on Market | 145 | |
| Price Decreased | 25% | |
| Price Increased | 6% | |
| Relisted | 16% | |
| Inventory | 69 | |
| Median Rent | $3,000 | |
| Most Expensive | $3,795,000 | |
| Least Expensive | $144,923 | |
| Market Action | 34 | |
| Slight Seller's Advantage | ||
Price trends in this zip code continued their recent uptrend this week. While still below the market’s high point, we may be seeing the start of a good price stretch here. We’ll look at the Market Action Index later in the report to gauge the leading indicators.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,499,000 | 3,570 | 0.5 - 1 acre | 4 | 3 | 17 | 0 | 0 | 230 |
| $744,500 | 2,600 | 0.5 - 1 acre | 4 | 2 | 17 | 0 | 3 | 104 |
| $510,000 | 2,130 | 0.5 - 1 acre | 3 | 2 | 42 | 2 | 0 | 103 |
| $359,500 | 1,349 | 0.25 - 0.5 acre | 3 | 1 | 65 | 2 | 1 | 143 |