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
Fri Mar 05 2021
This week the median list price for Newport, RI is $2,750,000 with the market action index hovering around 41. This is an increase over last month's market action index of 38. Inventory has held steady at or around 29.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices
Real-Time Market Profile
| Median List Price | $2,750,000 | |
| Per Square Foot | $609 | |
| Days on Market | 98 | |
| Price Decreased | 14% | |
| Price Increased | 0% | |
| Relisted | 3% | |
| Inventory | 29 | |
| Median Rent | $3,667 | |
| Most Expensive | $35,000,000 | |
| Least Expensive | $440,000 | |
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Click for more charts
Price trends continued their recent uptrend this week. While still below the market’s price high-point, we’ve seen a nice run recently.
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 |
|---|---|---|---|---|---|---|---|---|
| $10,900,000 | 8,364 | 2.5 - 5 acres | 8 | 7 | 94 | 0 | 0 | 175 |
| $3,750,000 | 4,759 | 1 - 2.5 acres | 5 | 5 | 26 | 0 | 0 | 98 |
| $1,300,000 | 2,969 | 4,500 - 6,500 sqft | 5 | 3 | 141 | 0 | 3 | 63 |
| $584,000 | 1,283 | 0 - 4,500 sqft | 3 | 1 | 136 | 2 | 0 | 35 |