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 Sep 27 2022
This week the median list price for Newport, RI is $1,065,000 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has decreased to 35.
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 achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
Real-Time Market Profile
| Median List Price | $1,065,000 | |
| Median Price of New Listings | $749,000 | |
| Per Square Foot | $634 | |
| Average Days on Market | 75 | |
| Median Days on Market | 70 | |
| Price Decreased | 43% | |
| Price Increased | 3% | |
| Relisted | 17% | |
| Inventory | 35 | |
| Median Rent | ||
| Market Action | 37 | |
| 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.
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 |
|---|---|---|---|---|---|---|---|---|
| $4,497,500 | 4,133 | 0.5 - 1 acre | 5 | 5 | 139 | 0 | 0 | 98 |
| $1,649,000 | 2,650 | 0 - 4,500 sqft | 4 | 3 | 162 | 0 | 0 | 49 |
| $895,000 | 1,450 | 0 - 4,500 sqft | 3 | 2.5 | 122 | 1 | 1 | 14 |
| $625,000 | 1,384 | 0 - 4,500 sqft | 3 | 1.5 | 122 | 2 | 2 | 91 |