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

Wed Nov 25 2020
This week the median list price for Portsmouth, RI 02871 is $974,950 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has held steady at or around 46. Click here to stay informed with the Portsmouth market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Portsmouth, RI 02871

Wed Nov 25 2020
This week the median list price for Portsmouth, RI 02871 is $974,950 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has held steady at or around 46. Click here to stay informed with the Portsmouth market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Portsmouth market.
Median List Price $974,950
Per Square Foot $352
Days on Market 152
Price Decreased 33%
Price Increased 7%
Relisted 13%
Inventory 46
Median Rent $2,600
Most Expensive $7,975,000
Least Expensive $285,000
Market Action 41
Slight Seller's Advantage

While this week the median price in this zip code didn’t fluctuate much, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.

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
$3,490,000 5,056 1 - 2.5 acres 5 4 22 0 0 294
$1,395,000 3,143 0.5 - 1 acre 4 4 14 1 0 95
$759,500 2,308 0.5 - 1 acre 3 2 31 2 2 192
$422,250 1,308 8,000 - 10,000 sqft 3 1 59 2 3 33