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

Thu Sep 16 2021
This week the median list price for Newport, RI is $1,150,000 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has decreased to 46. 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 over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Newport, RI

Thu Sep 16 2021
This week the median list price for Newport, RI is $1,150,000 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has decreased to 46. 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 over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,150,000
Median Price of New Listings $782,000
Per Square Foot $600
Average Days on Market 159
Median Days on Market 88
Price Decreased 43%
Price Increased 4%
Relisted 13%
Inventory 46
Median Rent
Market Action 38
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this 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
$7,750,000 6,773 2.5 - 5 acres 8 9 121 1 0 238
$2,195,000 3,600 6,500 - 8,000 sqft 4 3 132 0 1 112
$997,499 1,818 4,500 - 6,500 sqft 3 2 81 1 1 80
$737,500 1,680 4,500 - 6,500 sqft 4 2 121 2 1 66