Mon Jan 17 2022
This week the median list price for Newport, RI is $1,369,500 with the market action index hovering around 44. This is less than last month's market action index of 46. Inventory has decreased to 18.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$1,369,500|
|Median Price of New Listings||$6,000,000|
|Per Square Foot||$698|
|Average Days on Market||222|
|Median Days on Market||123|
|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|
|$7,475,000||7,183||2.5 - 5 acres||8||7.8||137||0||0||280|
|$3,325,000||4,244||0.25 - 0.5 acre||4||3.5||125||1||1||98|
|$1,090,000||1,620||0 - 4,500 sqft||3||2.5||147||0||1||112|
|$499,000||1,400||4,500 - 6,500 sqft||3||1.5||122||0||1||49|