This Week's Real Estate Market Report

Newport, RI 02840

Single-Family Homes

The Hogan Associates Real Estate Team | 401-845-9500 | info@hoganassociatesre.com



Newport, RI 02840

Sat Mar 02 2024
This week the median list price for Newport, RI 02840 is $3,245,000 with the market action index hovering around 54. This is an increase over last month's market action index of 45. Inventory has decreased to 14. Click here to stay informed with the Newport market!

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.

Newport, RI 02840

Sat Mar 02 2024
This week the median list price for Newport, RI 02840 is $3,245,000 with the market action index hovering around 54. This is an increase over last month's market action index of 45. Inventory has decreased to 14. Click here to stay informed with the Newport market!

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

Never miss important changes in the Newport market.
Median List Price $3,245,000
Median Price of New Listings $750,000
Per Square Foot $667
Average Days on Market 232
Median Days on Market 200
Price Decreased 29%
Price Increased 0%
Relisted 7%
Inventory 14
Median Rent
Market Action 54
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
$14,950,000 7,640 5 - 10 acres 5 8 49 0 0 238
$8,475,000 10,685 2.5 - 5 acres 6 6.5 7 0 1 182
$1,912,000 2,694 0 - 4,500 sqft 4 2.3 134 2 1 112
$669,000 1,396 0 - 4,500 sqft 3 2.3 124 1 1 73