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

Tue May 18 2021
This week the median list price for Newport, RI is $1,175,000 with the market action index hovering around 46. This is an increase over last month's market action index of 45. Inventory has increased to 37. 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.

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Newport, RI

Tue May 18 2021
This week the median list price for Newport, RI is $1,175,000 with the market action index hovering around 46. This is an increase over last month's market action index of 45. Inventory has increased to 37. 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.

Strong Seller's Market

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,175,000
Median Price of New Listings $624,450
Per Square Foot $493
Average Days on Market 144
Median Days on Market 28
Price Decreased 14%
Price Increased 0%
Relisted 3%
Inventory 37
Median Rent $7,750
Market Action 46
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. 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
$8,990,000 8,236 2.5 - 5 acres 7 7 42 1 0 210
$2,395,000 3,466 4,500 - 6,500 sqft 5 4 156 3 4 14
$959,000 1,963 0 - 4,500 sqft 4 2 138 1 1 70
$520,000 1,389 4,500 - 6,500 sqft 3 1 85 7 6 0