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

Thu Jan 23 2020
This week the median list price for Newport, RI is $1,165,000 with the market action index hovering around 31. This is less than last month's market action index of 33. Inventory has held steady at or around 63. 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

Market appears to have begun to cool. As we’re still notably in a Seller’s market, 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

Thu Jan 23 2020
This week the median list price for Newport, RI is $1,165,000 with the market action index hovering around 31. This is less than last month's market action index of 33. Inventory has held steady at or around 63. 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

Market appears to have begun to cool. As we’re still notably in a Seller’s market, 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 $1,165,000
Per Square Foot $443
Days on Market 237
Price Decreased 29%
Price Increased 3%
Relisted 13%
Inventory 63
Median Rent $2,000
Most Expensive $37,000,000
Least Expensive $190,000
Market Action 31
Slight Seller's Advantage

The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for 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
$4,950,000 6,526 1 - 2.5 acres 5 5 94 0 1 439
$1,722,500 4,162 0.25 - 0.5 acre 5 4 144 1 0 217
$859,450 2,296 4,500 - 6,500 sqft 4 3 125 1 0 205
$445,000 1,421 0 - 4,500 sqft 3 1 100 1 4 98