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 May 27 2022
This week the median list price for Newport, RI is $1,125,000 with the market action index hovering around 50. This is less than last month's market action index of 51. Inventory has increased to 26. 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.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Newport, RI

Fri May 27 2022
This week the median list price for Newport, RI is $1,125,000 with the market action index hovering around 50. This is less than last month's market action index of 51. Inventory has increased to 26. 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.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,125,000
Median Price of New Listings $1,050,000
Per Square Foot $590
Average Days on Market 141
Median Days on Market 25
Price Decreased 15%
Price Increased 4%
Relisted 8%
Inventory 26
Median Rent
Market Action 50
Strong Seller's Market

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
$4,525,000 5,818 0.25 - 0.5 acre 9 7 153 1 0 210
$1,680,000 3,197 0 - 4,500 sqft 3 3 144 1 0 17
$1,000,000 1,920 4,500 - 6,500 sqft 3 2.5 107 2 2 14
$599,900 1,179 0 - 4,500 sqft 3 1.5 122 1 2 42