This Week's Real Estate Market Report
Portsmouth, RI 02871
Single-Family Homes
The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com
Portsmouth, RI 02871
Fri Sep 20 2019
This week the median list price for Portsmouth, RI 02871 is $619,500 with the market action index hovering around 31. This is less than last month's market action index of 32. Inventory has held steady at or around 90.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $619,500 | |
| Per Square Foot | $272 | |
| Days on Market | 161 | |
| Price Decreased | 47% | |
| Price Increased | 3% | |
| Relisted | 17% | |
| Inventory | 90 | |
| Median House Rent | $3,075 | |
| Most Expensive | $5,995,000 | |
| Least Expensive | $135,000 | |
| Market Action Index Slight Seller's Advantage | 31 |
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $1,449,250 | 3,643 | 1 - 2.5 acres | 4 | 3 | 17 | 0 | 0 | 266 |
| $739,497 | 2,776 | 0.5 - 1 acre | 4 | 2 | 36 | 3 | 1 | 156 |
| $549,000 | 2,002 | 0.5 - 1 acre | 3 | 2 | 48 | 4 | 3 | 150 |
| $299,900 | 1,275 | 0.25 - 0.5 acre | 3 | 1 | 61 | 3 | 6 | 75 |