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

Sun Jan 29 2023
This week the median list price for Newport, RI is $1,690,000 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has increased to 25. 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.

Slight Seller's Advantage

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Newport, RI

Sun Jan 29 2023
This week the median list price for Newport, RI is $1,690,000 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has increased to 25. 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.

Slight Seller's Advantage

Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $1,690,000
Median Price of New Listings $3,500,000
Per Square Foot $725
Average Days on Market 119
Median Days on Market 105
Price Decreased 36%
Price Increased 4%
Relisted 12%
Inventory 25
Median Rent
Market Action 37
Slight Seller's Advantage

Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of 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
$5,975,000 5,113 1 - 2.5 acres 4 5.3 29 0 0 143
$2,945,000 3,671 0.25 - 0.5 acre 4 4 86 1 0 91
$1,274,500 2,120 0 - 4,500 sqft 4 2.8 68 0 2 129
$549,000 1,179 0 - 4,500 sqft 3 1.5 123 0 2 63