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

Wed Apr 24 2024
This week the median list price for Newport, RI is $2,595,000 with the market action index hovering around 58. This is less than last month's market action index of 63. Inventory has increased to 29. 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.

Strong Seller's Market

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. 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

Wed Apr 24 2024
This week the median list price for Newport, RI is $2,595,000 with the market action index hovering around 58. This is less than last month's market action index of 63. Inventory has increased to 29. 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.

Strong Seller's Market

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. 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 $2,595,000
Median Price of New Listings $1,875,000
Per Square Foot $757
Average Days on Market 111
Median Days on Market 28
Price Decreased 14%
Price Increased 0%
Relisted 10%
Inventory 29
Median Rent
Market Action 58
Strong Seller's Market

Despite this week’s down tic, price trends have generally been moving up lately. Prices are below the market’s high point, and so watch the Market Action Index as an indicator of 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
$9,250,000 5,983 1 - 2.5 acres 5 5.5 23 0 0 273
$3,495,000 4,818 0.25 - 0.5 acre 5 4 106 1 0 49
$2,400,000 2,602 8,000 - 10,000 sqft 4 3 132 5 2 0
$922,000 1,546 0 - 4,500 sqft 3 2.3 124 3 1 17