This Week's Real Estate Market Report
Middletown, RI 02842
Single-Family Homes
The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com
Middletown, RI 02842
Mon Jul 22 2019
This week the median list price for Middletown, RI 02842 is $599,000 with the market action index hovering around 37. This is less than last month's market action index of 40. Inventory has held steady at or around 45.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Seller's Advantage
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its 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
| Median List Price | $599,000 | |
| Per Square Foot | $317 | |
| Days on Market | 146 | |
| Price Decreased | 38% | |
| Price Increased | 0% | |
| Relisted | 16% | |
| Inventory | 45 | |
| Median House Rent | ||
| Most Expensive | $16,000,000 | |
| Least Expensive | $59,000 | |
| Market Action Index Slight Seller's Advantage | 37 |
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 |
|---|---|---|---|---|---|---|---|---|
| $2,950,000 | 3,860 | 1 - 2.5 acres | 4 | 4 | 27 | 0 | 2 | 236 |
| $995,000 | 3,367 | 1 - 2.5 acres | 4 | 3 | 16 | 1 | 0 | 197 |
| $485,000 | 1,630 | 0.25 - 0.5 acre | 3 | 2 | 35 | 1 | 1 | 83 |
| $338,000 | 1,110 | 4,500 - 6,500 sqft | 3 | 1 | 72 | 1 | 2 | 74 |