This Week's Real Estate Market Report

Newport, RI

Single-Family Homes

The Hogan Associates Real Estate Team | 401-845-9500 | info@hoganassociatesre.com



Newport, RI

Tue Aug 09 2022
This week the median list price for Newport, RI is $1,147,500 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 32. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Newport, RI

Tue Aug 09 2022
This week the median list price for Newport, RI is $1,147,500 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 32. 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

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,147,500
Median Price of New Listings $1,200,000
Per Square Foot $657
Average Days on Market 58
Median Days on Market 42
Price Decreased 50%
Price Increased 0%
Relisted 13%
Inventory 32
Median Rent
Market Action 42
Slight Seller's Advantage

Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

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
$4,697,500 3,906 0.25 - 0.5 acre 5 5 149 0 0 49
$1,745,000 2,795 4,500 - 6,500 sqft 4 3.3 158 2 2 28
$812,000 1,499 0 - 4,500 sqft 2 1.5 117 0 2 45
$595,000 1,180 0 - 4,500 sqft 3 1.8 122 1 2 56