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 Oct 16 2021
This week the median list price for Newport, RI is $1,090,000 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has decreased to 41. 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

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

Sat Oct 16 2021
This week the median list price for Newport, RI is $1,090,000 with the market action index hovering around 37. This is an increase over last month's market action index of 36. Inventory has decreased to 41. 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

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 $1,090,000
Median Price of New Listings $652,500
Per Square Foot $600
Average Days on Market 138
Median Days on Market 91
Price Decreased 39%
Price Increased 2%
Relisted 10%
Inventory 41
Median Rent $2,400
Market Action 37
Slight Seller's Advantage

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
$6,925,000 6,812 1 - 2.5 acres 8 7 149 0 1 84
$1,437,000 3,489 4,500 - 6,500 sqft 4 3 117 0 1 147
$945,000 1,768 6,500 - 8,000 sqft 3 2 71 1 3 94
$599,000 1,435 0 - 4,500 sqft 3 2 121 5 7 14