This Week's Real Estate Market Report
Tiverton, RI 02878
Single-Family Homes
The Hogan Associates Real Estate Team | 401-845-9500 | info@hoganassociatesre.com
Tiverton, RI 02878
Sat Sep 30 2023
This week the median list price for Tiverton, RI 02878 is $599,000 with the market action index hovering around 46. This is an increase over last month's market action index of 42. Inventory has decreased to 26.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have recently resumed tightening. As the rate of home sales increases relative to the number of homes on the market, the Market Action Index increases. Even though the MAI is technically in the Seller’s zone, prices have not yet started climbing along with the changes in Market Action, but expect them to do so if the trend continues.
Real-Time Market Profile
| Median List Price | $599,000 | |
| Median Price of New Listings | $295,000 | |
| Per Square Foot | $334 | |
| Average Days on Market | 83 | |
| Median Days on Market | 46 | |
| Price Decreased | 50% | |
| Price Increased | 0% | |
| Relisted | 23% | |
| Inventory | 26 | |
| Median Rent | ||
| Market Action | 46 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,247,500 | 3,435 | 1 - 2.5 acres | 3 | 3.3 | 46 | 1 | 1 | 42 |
| $722,450 | 2,185 | 0.5 - 1 acre | 3 | 2 | 40 | 0 | 1 | 49 |
| $569,000 | 2,234 | 0.5 - 1 acre | 4 | 2 | 47 | 0 | 4 | 42 |
| $359,000 | 1,308 | 0.25 - 0.5 acre | 2 | 1 | 47 | 2 | 2 | 84 |