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

Wed Nov 25 2020
This week the median list price for Newport, RI 02840 is $1,175,000 with the market action index hovering around 42. This is an increase over last month's market action index of 41. Inventory has held steady at or around 49. 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 Seller's Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Newport, RI 02840

Wed Nov 25 2020
This week the median list price for Newport, RI 02840 is $1,175,000 with the market action index hovering around 42. This is an increase over last month's market action index of 41. Inventory has held steady at or around 49. 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 Seller's Advantage

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,175,000
Per Square Foot $512
Days on Market 166
Price Decreased 29%
Price Increased 0%
Relisted 10%
Inventory 49
Median Rent $3,000
Most Expensive $35,000,000
Least Expensive $309,900
Market Action 42
Slight Seller's Advantage

Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.

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
$7,487,500 8,236 1 - 2.5 acres 6 7 45 2 1 215
$2,422,500 3,477 8,000 - 10,000 sqft 4 4 128 2 2 211
$997,000 1,747 4,500 - 6,500 sqft 4 2 125 2 2 189
$549,000 1,248 0 - 4,500 sqft 3 1 120 2 3 57