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
Mon Jan 24 2022
This week the median list price for Portsmouth, RI 02871 is $884,450 with the market action index hovering around 52. This is an increase over last month's market action index of 49. Inventory has increased to 28.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
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 so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $884,450 | |
| Median Price of New Listings | $844,450 | |
| Per Square Foot | $416 | |
| Average Days on Market | 73 | |
| Median Days on Market | 56 | |
| Price Decreased | 18% | |
| Price Increased | 4% | |
| Relisted | 7% | |
| Inventory | 28 | |
| Median Rent | ||
| Market Action | 52 | |
| Strong Seller's Market | ||
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move 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 |
|---|---|---|---|---|---|---|---|---|
| $1,595,000 | 3,478 | 0.25 - 0.5 acre | 4 | 3.5 | 0 | 1 | 0 | 140 |
| $1,250,000 | 3,108 | 6,500 - 8,000 sqft | 4 | 3.5 | 0 | 2 | 1 | 14 |
| $799,000 | 1,356 | 0 - 4,500 sqft | 3 | 2.5 | 72 | 1 | 3 | 70 |
| $305,000 | 1,204 | 8,000 - 10,000 sqft | 3 | 1 | 82 | 2 | 3 | 21 |