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 Jun 24 2024
This week the median list price for Portsmouth, RI 02871 is $999,000 with the market action index hovering around 44. This is an increase over last month's market action index of 39. Inventory has held steady at or around 36. 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

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Portsmouth, RI 02871

Mon Jun 24 2024
This week the median list price for Portsmouth, RI 02871 is $999,000 with the market action index hovering around 44. This is an increase over last month's market action index of 39. Inventory has held steady at or around 36. 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

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Real-Time Market Profile

Never miss important changes in the Portsmouth market.
Median List Price $999,000
Median Price of New Listings $764,000
Per Square Foot $405
Average Days on Market 56
Median Days on Market 32
Price Decreased 36%
Price Increased 6%
Relisted 14%
Inventory 36
Median Rent
Market Action 44
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$1,997,000 4,700 1 - 2.5 acres 4 3.8 35 0 1 42
$1,289,000 2,993 1 - 2.5 acres 4 3 26 0 2 28
$829,000 1,828 0.25 - 0.5 acre 3 2.5 3 3 5 35
$450,000 1,178 6,500 - 8,000 sqft 3 1 67 2 1 21