This Week's Real Estate Market Report
Little Compton, RI 02837
Single-Family Homes
The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com
Little Compton, RI 02837
Tue May 21 2019
This week the median list price for Little Compton, RI 02837 is $747,000 with the market action index hovering around 21. This is an increase over last month's market action index of 20. Inventory has held steady at or around 38.
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 Buyer's Advantage
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $747,000 | |
| Per Square Foot | $334 | |
| Days on Market | 182 | |
| Price Decreased | 32% | |
| Price Increased | 0% | |
| Relisted | 18% | |
| Inventory | 38 | |
| Median House Rent | ||
| Most Expensive | $4,395,000 | |
| Least Expensive | $329,000 | |
| Market Action Index Slight Buyer's Advantage | 21 |
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,585,000 | 3,578 | 2.5 - 5 acres | 4 | 3 | 23 | 1 | 0 | 143 |
| $989,900 | 2,240 | 1 - 2.5 acres | 3 | 3 | 33 | 1 | 1 | 133 |
| $636,250 | 2,517 | 2.5 - 5 acres | 3 | 2 | 78 | 1 | 0 | 252 |
| $472,000 | 1,742 | 1 - 2.5 acres | 2 | 2 | 39 | 0 | 1 | 189 |