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 Jan 23 2020
This week the median list price for Portsmouth, RI 02871 is $469,000 with the market action index hovering around 34. This is an increase over last month's market action index of 32. Inventory has held steady at or around 53.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $469,000 | |
| Per Square Foot | $277 | |
| Days on Market | 182 | |
| Price Decreased | 42% | |
| Price Increased | 2% | |
| Relisted | 19% | |
| Inventory | 53 | |
| Median Rent | $2,350 | |
| Most Expensive | $5,995,000 | |
| Least Expensive | $129,000 | |
| Market Action | 34 | |
| Slight Seller's Advantage | ||
Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market’s highs. 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 |
|---|---|---|---|---|---|---|---|---|
| $1,498,500 | 3,242 | 0.5 - 1 acre | 4 | 3 | 34 | 1 | 1 | 383 |
| $599,900 | 1,932 | 0.5 - 1 acre | 3 | 2 | 37 | 2 | 3 | 172 |
| $399,000 | 1,491 | 0.25 - 0.5 acre | 3 | 2 | 59 | 2 | 1 | 96 |
| $264,000 | 1,284 | 6,500 - 8,000 sqft | 3 | 1 | 64 | 1 | 0 | 81 |