This Week's Real Estate Market Report

Newport, RI

Single-Family Homes

The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com



Newport, RI

Mon Jul 22 2019
This week the median list price for Newport, RI is $1,097,000 with the market action index hovering around 32. This is less than last month's market action index of 34. Inventory has held steady at or around 99. Click here to stay informed with the Newport market!

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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Newport, RI

Mon Jul 22 2019
This week the median list price for Newport, RI is $1,097,000 with the market action index hovering around 32. This is less than last month's market action index of 34. Inventory has held steady at or around 99. Click here to stay informed with the Newport market!

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

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,097,000
Per Square Foot $448
Days on Market 135
Price Decreased 29%
Price Increased 0%
Relisted 9%
Inventory 99
Median House Rent $2,800
Most Expensive $37,000,000
Least Expensive $225,000
Market Action Index
Slight Seller's Advantage
32

This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.

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
$4,572,500 6,416 1 - 2.5 acres 6 5 106 1 0 227
$1,600,000 3,259 6,500 - 8,000 sqft 4 3 129 2 1 159
$824,500 2,150 4,500 - 6,500 sqft 4 2 121 4 0 66
$515,000 1,372 0 - 4,500 sqft 3 1 109 3 4 93