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 Jul 04 2020
This week the median list price for Newport, RI 02840 is $1,337,500 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has held steady at or around 74. 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.

Slight Buyer's Advantage

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Newport, RI 02840

Sat Jul 04 2020
This week the median list price for Newport, RI 02840 is $1,337,500 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has held steady at or around 74. 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.

Slight Buyer's Advantage

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,337,500
Per Square Foot $492
Days on Market 215
Price Decreased 19%
Price Increased 1%
Relisted 3%
Inventory 74
Median Rent
Most Expensive $37,000,000
Least Expensive $375,000
Market Action 28
Slight Buyer's Advantage

Price trends in this zip code continued their recent uptrend this week. While still below the market’s high point, we may be seeing the start of a good price stretch here. We’ll look at the Market Action Index later in the report to gauge the leading indicators.

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
$5,125,000 6,251 1 - 2.5 acres 5 5 90 0 1 384
$2,200,000 4,269 0.25 - 0.5 acre 5 5 134 1 0 223
$1,025,000 2,408 4,500 - 6,500 sqft 4 2 125 2 0 179
$639,000 1,523 0 - 4,500 sqft 4 2 120 6 6 82