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
Tue Mar 28 2023
This week the median list price for Portsmouth, RI 02871 is $1,795,000 with the market action index hovering around 46. This is an increase over last month's market action index of 42. Inventory has held steady at or around 20.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $1,795,000 | |
| Median Price of New Listings | $849,900 | |
| Per Square Foot | $495 | |
| Average Days on Market | 119 | |
| Median Days on Market | 91 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 10% | |
| Inventory | 20 | |
| Median Rent | ||
| Market Action | 46 | |
| Strong Seller's Market | ||
Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,900,000 | 9,315 | 1 - 2.5 acres | 5 | 6.5 | 16 | 1 | 1 | 63 |
| $2,500,000 | 3,543 | 1 - 2.5 acres | 4 | 3.5 | 1 | 0 | 0 | 119 |
| $1,695,000 | 2,695 | 1 - 2.5 acres | 3 | 5 | 4 | 1 | 1 | 119 |
| $525,000 | 1,568 | 4,500 - 6,500 sqft | 3 | 2 | 35 | 1 | 1 | 7 |