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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|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|
|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.
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|