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
Mon Jul 06 2020
This week the median list price for Newport, RI is $1,372,500 with the market action index hovering around 30. This is an increase over last month's market action index of 28. Inventory has held steady at or around 74.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have begun exceeding new inventory. While still a Buyer’s market, prices seem to have already started to respond. If the trend continues, expect prices to keep marching upward.
Real-Time Market Profile
| Median List Price | $1,372,500 | |
| Per Square Foot | $492 | |
| Days on Market | 221 | |
| Price Decreased | 19% | |
| Price Increased | 1% | |
| Relisted | 5% | |
| Inventory | 74 | |
| Median Rent | ||
| Most Expensive | $37,000,000 | |
| Least Expensive | $375,000 | |
| Market Action | 30 | |
| Slight Seller's Advantage | ||
Price trends continued their recent uptrend this week. While still below the market’s price high-point, we’ve seen a nice run recently.
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 |
|---|---|---|---|---|---|---|---|---|
| $5,125,000 | 6,251 | 1 - 2.5 acres | 5 | 5 | 90 | 0 | 0 | 391 |
| $2,200,000 | 4,540 | 0.25 - 0.5 acre | 5 | 5 | 138 | 1 | 0 | 222 |
| $1,089,000 | 2,394 | 4,500 - 6,500 sqft | 4 | 3 | 120 | 1 | 1 | 193 |
| $595,000 | 1,469 | 0 - 4,500 sqft | 3 | 1 | 110 | 5 | 6 | 88 |