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

Sat Jan 16 2021
This week the median list price for Newport, RI is $1,449,999 with the market action index hovering around 36. This is less than last month's market action index of 39. Inventory has held steady at or around 38. 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. 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.

Newport, RI

Sat Jan 16 2021
This week the median list price for Newport, RI is $1,449,999 with the market action index hovering around 36. This is less than last month's market action index of 39. Inventory has held steady at or around 38. 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. 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

Never miss important changes in the Newport market.
Median List Price $1,449,999
Per Square Foot $518
Days on Market 150
Price Decreased 29%
Price Increased 0%
Relisted 3%
Inventory 38
Median Rent $3,000
Most Expensive $35,000,000
Least Expensive $370,000
Market Action 36
Slight Seller's Advantage

The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.

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
$10,900,000 8,236 2.5 - 5 acres 7 7 42 0 1 236
$2,695,000 4,070 0.25 - 0.5 acre 5 5 131 0 3 105
$1,022,000 2,209 0 - 4,500 sqft 3 2 129 1 4 177
$498,000 1,142 0 - 4,500 sqft 3 1 121 1 0 86