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 Apr 02 2020
This week the median list price for Newport, RI is $1,069,500 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has held steady at or around 60. 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 started cooling and prices have recently plateaued. Since 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

Thu Apr 02 2020
This week the median list price for Newport, RI is $1,069,500 with the market action index hovering around 33. This is less than last month's market action index of 34. Inventory has held steady at or around 60. 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 started cooling and prices have recently plateaued. Since 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 $1,069,500
Per Square Foot $470
Days on Market 238
Price Decreased 18%
Price Increased 2%
Relisted 8%
Inventory 60
Median Rent
Most Expensive $37,000,000
Least Expensive $314,000
Market Action 33
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
$3,500,000 6,526 1 - 2.5 acres 5 5 94 1 0 482
$1,480,000 3,286 0.25 - 0.5 acre 4 3 139 0 0 292
$850,000 2,234 4,500 - 6,500 sqft 4 3 147 1 0 109
$469,000 1,394 0 - 4,500 sqft 3 1 120 3 3 69