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

Fri Jul 01 2022
This week the median list price for Portsmouth, RI 02871 is $1,300,000 with the market action index hovering around 48. This is less than last month's market action index of 50. Inventory has increased to 54. 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.

Strong Seller's Market

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Portsmouth, RI 02871

Fri Jul 01 2022
This week the median list price for Portsmouth, RI 02871 is $1,300,000 with the market action index hovering around 48. This is less than last month's market action index of 50. Inventory has increased to 54. 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.

Strong Seller's Market

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Portsmouth market.
Median List Price $1,300,000
Median Price of New Listings $649,900
Per Square Foot $440
Average Days on Market 75
Median Days on Market 21
Price Decreased 15%
Price Increased 9%
Relisted 15%
Inventory 54
Median Rent
Market Action 48
Strong Seller's Market

Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.

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
$2,900,000 3,600 1 - 2.5 acres 4 3.5 2 1 0 77
$1,400,000 3,210 6,500 - 8,000 sqft 4 3.5 0 0 0 7
$820,000 2,326 0.25 - 0.5 acre 3 2.5 26 2 0 21
$537,500 1,292 6,500 - 8,000 sqft 3 2 67 4 1 7