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 Oct 08 2024
This week the median list price for Portsmouth, RI 02871 is $1,262,500 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has increased to 34. 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

Market Narrative

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

Tue Oct 08 2024
This week the median list price for Portsmouth, RI 02871 is $1,262,500 with the market action index hovering around 41. This is less than last month's market action index of 45. Inventory has increased to 34. 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

Market Narrative

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 $1,262,500
Median Price of New Listings $972,450
Per Square Foot $398
Average Days on Market 87
Median Days on Market 60
Price Decreased 44%
Price Increased 3%
Relisted 26%
Inventory 34
Median Rent
Market Action 41
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices 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
$3,700,000 5,114 1 - 2.5 acres 4 6 24 0 0 63
$1,672,500 4,086 0.5 - 1 acre 4 4.5 29 2 0 136
$900,000 2,122 0.25 - 0.5 acre 3 3 39 0 1 35
$462,000 1,440 8,000 - 10,000 sqft 3 1 71 2 5 35