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
Fri Apr 23 2021
This week the median list price for Newport, RI is $1,200,000 with the market action index hovering around 45. This is an increase over last month's market action index of 44. Inventory has held steady at or around 33.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
Real-Time Market Profile
| Median List Price | $1,200,000 | |
| Per Square Foot | $549 | |
| Days on Market | 84 | |
| Price Decreased | 21% | |
| Price Increased | 0% | |
| Relisted | 3% | |
| Inventory | 33 | |
| Median Rent | $8,000 | |
| Most Expensive | $35,000,000 | |
| Least Expensive | $424,900 | |
| Market Action | 45 | |
| Strong Seller's Market | ||
This week saw relatively little price change from last week. However, prices continue to demonstrate a nice up trend over the last several weeks.
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 | 8,300 | 2.5 - 5 acres | 7 | 7 | 68 | 0 | 0 | 301 |
| $2,672,500 | 3,235 | 1 - 2.5 acres | 4 | 4 | 95 | 2 | 2 | 115 |
| $1,100,000 | 2,507 | 4,500 - 6,500 sqft | 4 | 2 | 149 | 2 | 1 | 105 |
| $625,000 | 1,400 | 0 - 4,500 sqft | 3 | 2 | 121 | 4 | 4 | 21 |