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
Tue Aug 09 2022
This week the median list price for Newport, RI is $1,147,500 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 32.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $1,147,500 | |
| Median Price of New Listings | $1,200,000 | |
| Per Square Foot | $657 | |
| Average Days on Market | 58 | |
| Median Days on Market | 42 | |
| Price Decreased | 50% | |
| Price Increased | 0% | |
| Relisted | 13% | |
| Inventory | 32 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,697,500 | 3,906 | 0.25 - 0.5 acre | 5 | 5 | 149 | 0 | 0 | 49 |
| $1,745,000 | 2,795 | 4,500 - 6,500 sqft | 4 | 3.3 | 158 | 2 | 2 | 28 |
| $812,000 | 1,499 | 0 - 4,500 sqft | 2 | 1.5 | 117 | 0 | 2 | 45 |
| $595,000 | 1,180 | 0 - 4,500 sqft | 3 | 1.8 | 122 | 1 | 2 | 56 |