Mon Apr 06 2020
This week the median list price for Newport, RI is $1,025,000 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has held steady at or around 65.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$1,025,000|
|Per Square Foot||$469|
|Days on Market||226|
|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.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,725,000||6,574||1 - 2.5 acres||5||5||78||1||0||458|
|$1,437,500||3,143||8,000 - 10,000 sqft||4||3||132||0||0||282|
|$844,500||2,155||0 - 4,500 sqft||4||3||145||2||0||107|
|$469,000||1,281||0 - 4,500 sqft||3||1||120||2||0||67|