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 Oct 16 2021
This week the median list price for Portsmouth, RI 02871 is $822,450 with the market action index hovering around 43. This is less than last month's market action index of 47. Inventory has increased to 44. 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

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Portsmouth, RI 02871

Sat Oct 16 2021
This week the median list price for Portsmouth, RI 02871 is $822,450 with the market action index hovering around 43. This is less than last month's market action index of 47. Inventory has increased to 44. 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

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to 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

Never miss important changes in the Portsmouth market.
Median List Price $822,450
Median Price of New Listings $499,900
Per Square Foot $385
Average Days on Market 68
Median Days on Market 35
Price Decreased 27%
Price Increased 2%
Relisted 16%
Inventory 44
Median Rent $2,500
Market Action 43
Slight Seller's Advantage

Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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
$1,950,000 4,168 0.5 - 1 acre 4 5 19 0 0 49
$1,175,000 2,792 0.5 - 1 acre 4 3 24 1 0 35
$575,000 2,015 0.25 - 0.5 acre 3 2 46 3 2 21
$375,000 1,134 6,500 - 8,000 sqft 2 1 71 3 1 21