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
Sat Jul 11 2020
This week the median list price for Newport, RI is $1,372,500 with the market action index hovering around 30. This is an increase over last month's market action index of 28. Inventory has held steady at or around 74.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have begun exceeding new inventory. While still a Buyer’s market, prices seem to have already started to respond. If the trend continues, expect prices to keep marching upward.
Real-Time Market Profile
| Median List Price | $1,372,500 | |
| Per Square Foot | $492 | |
| Days on Market | 221 | |
| Price Decreased | 19% | |
| Price Increased | 1% | |
| Relisted | 5% | |
| Inventory | 74 | |
| Median Rent | ||
| Most Expensive | $37,000,000 | |
| Least Expensive | $375,000 | |
| Market Action | 30 | |
| Slight Seller's Advantage | ||
Click for more charts
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 |
|---|---|---|---|---|---|---|---|---|
| $5,125,000 | 6,251 | 1 - 2.5 acres | 5 | 5 | 90 | 0 | 0 | 391 |
| $2,200,000 | 4,540 | 0.25 - 0.5 acre | 5 | 5 | 138 | 1 | 0 | 222 |
| $1,089,000 | 2,394 | 4,500 - 6,500 sqft | 4 | 3 | 120 | 1 | 1 | 193 |
| $595,000 | 1,469 | 0 - 4,500 sqft | 3 | 1 | 110 | 5 | 6 | 88 |