Wed Oct 20 2021
This week the median list price for Newport, RI is $999,999 with the market action index hovering around 39. This is an increase over last month's market action index of 36. Inventory has decreased to 39.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$999,999|
|Median Price of New Listings||$745,000|
|Per Square Foot||$492|
|Average Days on Market||133|
|Median Days on Market||98|
|Slight Seller's Advantage|
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. 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|
|$6,950,000||6,306||1 - 2.5 acres||8||7||136||0||2||126|
|$1,382,000||2,399||4,500 - 6,500 sqft||3||2||101||1||2||136|
|$772,000||2,003||4,500 - 6,500 sqft||4||2||106||2||2||91|
|$562,500||1,418||0 - 4,500 sqft||3||2||102||2||1||14|