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
Fri Jul 26 2024
This week the median list price for Portsmouth, RI 02871 is $1,244,500 with the market action index hovering around 46. This is an increase over last month's market action index of 43. Inventory has decreased to 34.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has begun to heat up in recent weeks. We’re already in a Seller’s market and not surprisingly prices are showing evidence of moving up along with the lower levels of inventory.
Real-Time Market Profile
| Median List Price | $1,244,500 | |
| Median Price of New Listings | $617,000 | |
| Per Square Foot | $430 | |
| Average Days on Market | 57 | |
| Median Days on Market | 42 | |
| Price Decreased | 26% | |
| Price Increased | 9% | |
| Relisted | 15% | |
| Inventory | 34 | |
| Median Rent | ||
| Market Action | 46 | |
| Strong Seller's Market | ||
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,900,000 | 4,812 | 1 - 2.5 acres | 4 | 5 | 35 | 0 | 0 | 52 |
| $1,536,999 | 3,630 | 0.5 - 1 acre | 4 | 3.5 | 4 | 1 | 3 | 66 |
| $890,000 | 2,789 | 0.5 - 1 acre | 3 | 2.5 | 31 | 0 | 2 | 35 |
| $599,000 | 1,600 | 4,500 - 6,500 sqft | 3 | 1.5 | 55 | 3 | 1 | 7 |