Thu Jan 23 2020
This week the median list price for Newport, RI is $1,165,000 with the market action index hovering around 31. This is less than last month's market action index of 33. Inventory has held steady at or around 63.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$1,165,000|
|Per Square Foot||$443|
|Days on Market||237|
|Slight Seller's Advantage|
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$4,950,000||6,526||1 - 2.5 acres||5||5||94||0||1||439|
|$1,722,500||4,162||0.25 - 0.5 acre||5||4||144||1||0||217|
|$859,450||2,296||4,500 - 6,500 sqft||4||3||125||1||0||205|
|$445,000||1,421||0 - 4,500 sqft||3||1||100||1||4||98|