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 Jul 11 2020
This week the median list price for Portsmouth, RI 02871 is $744,500 with the market action index hovering around 35. This is an increase over last month's market action index of 32. Inventory has held steady at or around 57.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $744,500 | |
| Per Square Foot | $345 | |
| Days on Market | 171 | |
| Price Decreased | 23% | |
| Price Increased | 2% | |
| Relisted | 11% | |
| Inventory | 57 | |
| Median Rent | $3,200 | |
| Most Expensive | $3,650,000 | |
| Least Expensive | $125,000 | |
| Market Action | 35 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $1,897,500 | 4,721 | 1 - 2.5 acres | 4 | 4 | 15 | 0 | 1 | 256 |
| $967,250 | 2,828 | 0.5 - 1 acre | 4 | 2 | 0 | 0 | 1 | 96 |
| $649,950 | 2,052 | 0.5 - 1 acre | 3 | 2 | 33 | 2 | 2 | 168 |
| $354,500 | 1,200 | 0.25 - 0.5 acre | 3 | 1 | 61 | 3 | 4 | 161 |