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

Thu Jan 23 2020
This week the median list price for Portsmouth, RI 02871 is $469,000 with the market action index hovering around 34. This is an increase over last month's market action index of 32. Inventory has held steady at or around 53. 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

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Portsmouth, RI 02871

Thu Jan 23 2020
This week the median list price for Portsmouth, RI 02871 is $469,000 with the market action index hovering around 34. This is an increase over last month's market action index of 32. Inventory has held steady at or around 53. 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

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Portsmouth market.
Median List Price $469,000
Per Square Foot $277
Days on Market 182
Price Decreased 42%
Price Increased 2%
Relisted 19%
Inventory 53
Median Rent $2,350
Most Expensive $5,995,000
Least Expensive $129,000
Market Action 34
Slight Seller's Advantage

Again this week in this zip code we see a downward notch for prices. We continue to pull back from the market’s highs. 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
$1,498,500 3,242 0.5 - 1 acre 4 3 34 1 1 383
$599,900 1,932 0.5 - 1 acre 3 2 37 2 3 172
$399,000 1,491 0.25 - 0.5 acre 3 2 59 2 1 96
$264,000 1,284 6,500 - 8,000 sqft 3 1 64 1 0 81