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 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. 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.

Slight Seller's Advantage

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Newport, RI

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. 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.

Slight Seller's Advantage

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Real-Time Market Profile

Never miss important changes in the Newport market.
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
Price Decreased 38%
Price Increased 3%
Relisted 13%
Inventory 39
Median Rent $3,250
Market Action 39
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.

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
$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