This Week's Real Estate Market Report
Middletown, RI 02842
Single-Family Homes
The Hogan Associates Real Estate Team | 401-845-9500 | info@hoganassociatesre.com
Middletown, RI 02842
Fri Jul 01 2022
This week the median list price for Middletown, RI 02842 is $1,147,000 with the market action index hovering around 68. This is less than last month's market action index of 71. Inventory has increased to 12.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,147,000 | |
| Median Price of New Listings | $1,400,000 | |
| Per Square Foot | $597 | |
| Average Days on Market | 25 | |
| Median Days on Market | 14 | |
| Price Decreased | 25% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 12 | |
| Median Rent | ||
| Market Action | 68 | |
| Strong Seller's Market | ||
Despite this week’s down tic, price trends in this zip code have been moving up in the last few weeks. We are below the market’s high point, and we’ll investigate the Market Action Index later on to see if we expect this week’s blip to become a downward trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,500,000 | 7,763 | 1 - 2.5 acres | 5 | 5 | 96 | 1 | 0 | 42 |
| $1,400,000 | 2,116 | 1 - 2.5 acres | 3 | 2.5 | 41 | 2 | 0 | 0 |
| $1,000,000 | 3,012 | 0.25 - 0.5 acre | 4 | 3.5 | 47 | 1 | 0 | 21 |
| $789,900 | 1,065 | 4,500 - 6,500 sqft | 2 | 2 | 72 | 1 | 2 | 7 |