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

Wed Nov 13 2019
This week the median list price for Newport, RI is $898,000 with the market action index hovering around 30. This is less than last month's market action index of 31. Inventory has held steady at or around 90. 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

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Newport, RI

Wed Nov 13 2019
This week the median list price for Newport, RI is $898,000 with the market action index hovering around 30. This is less than last month's market action index of 31. Inventory has held steady at or around 90. 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

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Newport market.
Median List Price $898,000
Per Square Foot $436
Days on Market 175
Price Decreased 48%
Price Increased 0%
Relisted 9%
Inventory 90
Median House Rent $2,225
Most Expensive $37,000,000
Least Expensive $260,000
Market Action Index
Slight Seller's Advantage
30

The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle.

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
$4,347,500 6,408 1 - 2.5 acres 5 5 111 0 3 338
$1,435,000 3,077 8,000 - 10,000 sqft 4 3 132 3 2 192
$699,000 1,710 4,500 - 6,500 sqft 3 2 119 2 2 104
$489,900 1,404 0 - 4,500 sqft 3 1 119 0 3 74