Condo Market Newport
Newport, RI
Single-Family Homes
The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com
Newport, RI
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Slight Seller's Advantage
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $875,000 | |
| Per Square Foot | $404 | |
| Days on Market | 162 | |
| Price Decreased | 23% | |
| Price Increased | 0% | |
| Relisted | 12% | |
| Inventory | 73 | |
| Median House Rent | $6,500 | |
| Most Expensive | $39,000,000 | |
| Least Expensive | $238,000 | |
| Market Action Index Slight Seller's Advantage | 30 |
The market seems to have paused around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $3,647,500 | 6,144 | 1 - 2.5 acres | 5 | 5 | 66 | 2 | 0 | 301 |
| $1,275,000 | 3,309 | 6,500 - 8,000 sqft | 4 | 3 | 144 | 4 | 1 | 158 |
| $684,000 | 2,027 | 0 - 4,500 sqft | 4 | 2 | 99 | 1 | 1 | 127 |
| $437,000 | 1,360 | 0 - 4,500 sqft | 3 | 2 | 110 | 3 | 1 | 67 |