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

Mon Jun 24 2024
This week the median list price for Newport, RI is $2,595,000 with the market action index hovering around 41. This is less than last month's market action index of 47. Inventory has increased to 37. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Newport, RI

Mon Jun 24 2024
This week the median list price for Newport, RI is $2,595,000 with the market action index hovering around 41. This is less than last month's market action index of 47. Inventory has increased to 37. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $2,595,000
Median Price of New Listings $799,000
Per Square Foot $743
Average Days on Market 85
Median Days on Market 42
Price Decreased 19%
Price Increased 0%
Relisted 5%
Inventory 37
Median Rent
Market Action 41
Slight Seller's Advantage

The market seems to have paused around this plateau. 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
$7,995,000 5,983 1 - 2.5 acres 4 5 46 0 1 56
$3,200,000 3,904 0.25 - 0.5 acre 5 4 106 0 1 63
$2,350,000 3,198 4,500 - 6,500 sqft 5 3 104 0 0 49
$899,000 1,829 4,500 - 6,500 sqft 3 2 100 4 3 17