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 Jul 31 2021
This week the median list price for Newport, RI is $1,250,000 with the market action index hovering around 46. This is less than last month's market action index of 48. Inventory has increased to 47. 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

The market has started cooling and prices have recently plateaued. 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.

Newport, RI

Sat Jul 31 2021
This week the median list price for Newport, RI is $1,250,000 with the market action index hovering around 46. This is less than last month's market action index of 48. Inventory has increased to 47. 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

The market has started cooling and prices have recently plateaued. 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

Never miss important changes in the Newport market.
Median List Price $1,250,000
Median Price of New Listings $895,000
Per Square Foot $527
Average Days on Market 137
Median Days on Market 56
Price Decreased 36%
Price Increased 6%
Relisted 11%
Inventory 47
Median Rent $4,500
Market Action 46
Strong Seller's Market

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
$8,990,000 8,000 2.5 - 5 acres 7 7 51 0 1 189
$1,469,000 3,424 0 - 4,500 sqft 4 3 153 1 1 66
$1,049,499 2,039 4,500 - 6,500 sqft 3 2 106 1 1 56
$760,000 1,606 4,500 - 6,500 sqft 4 2 106 1 1 28