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
Wed Nov 13 2019
This week the median list price for Portsmouth, RI 02871 is $599,000 with the market action index hovering around 33. This is an increase over last month's market action index of 30. Inventory has held steady at or around 77.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $599,000 | |
| Per Square Foot | $282 | |
| Days on Market | 171 | |
| Price Decreased | 40% | |
| Price Increased | 4% | |
| Relisted | 16% | |
| Inventory | 77 | |
| Median House Rent | $2,450 | |
| Most Expensive | $5,995,000 | |
| Least Expensive | $179,900 | |
| Market Action Index Slight Seller's Advantage | 33 |
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 |
|---|---|---|---|---|---|---|---|---|
| $1,400,000 | 3,799 | 1 - 2.5 acres | 4 | 3 | 16 | 0 | 2 | 358 |
| $655,000 | 2,440 | 0.5 - 1 acre | 3 | 2 | 34 | 1 | 1 | 133 |
| $499,900 | 1,932 | 0.5 - 1 acre | 3 | 2 | 48 | 3 | 5 | 135 |
| $324,950 | 1,224 | 8,000 - 10,000 sqft | 3 | 1 | 61 | 5 | 5 | 62 |