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 Sep 19 2020
This week the median list price for Portsmouth, RI 02871 is $873,750 with the market action index hovering around 42. This is less than last month's market action index of 43. Inventory has held steady at or around 42.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $873,750 | |
| Per Square Foot | $337 | |
| Days on Market | 162 | |
| Price Decreased | 21% | |
| Price Increased | 10% | |
| Relisted | 17% | |
| Inventory | 42 | |
| Median Rent | $2,200 | |
| Most Expensive | $3,900,000 | |
| Least Expensive | $100,000 | |
| Market Action | 42 | |
| Slight Seller's Advantage | ||
Prices in this zip code hit another all time high this week. You can see that prices continue to march higher. Look for a persistent downtrend in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength finally abating.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,325,000 | 4,319 | 1 - 2.5 acres | 5 | 4 | 39 | 0 | 0 | 331 |
| $1,037,500 | 2,993 | 0.5 - 1 acre | 4 | 3 | 24 | 0 | 2 | 128 |
| $749,500 | 2,600 | 0.5 - 1 acre | 4 | 2 | 0 | 2 | 1 | 121 |
| $344,000 | 1,224 | 8,000 - 10,000 sqft | 3 | 1 | 56 | 2 | 3 | 77 |