$2,969 Closing Credit*
$250,000
936 SqFt
2 Beds
•1 Full Bath
Listing Office: RE/MAX Profnl. Newport, Inc.
Is Portsmouth, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Portsmouth has remained a Seller's Market.
Key Takeaway
Portsmouth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portsmouth, RI
How much do homes in Portsmouth, RI cost?
Median Sold Price
$651,666
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$1,666(+0.3%)
Key Takeaway
The sold price of homes in Portsmouth has remained the same since last year.
Summary: The median home sold price in Portsmouth was $651,666 in October 2024, up 0.3% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $352K | $570.6K | +62.1% |
| 2 Bedrooms | $577.5K | $530K | -8.2% |
| 3 Bedrooms | $575K | $620K | +7.8% |
| 4 Bedrooms | $853K | $1.0M | +23.1% |
| 5+ Bedrooms | $1.6M | $3.6M | +112.4% |
Summary: Portsmouth housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 62.1%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 112.4%.
Median Sold Price Compared To Nearby Cities
| Tiverton | $430K | $492.5K | +14.5% |
| Portsmouth | $650K | $651.6K | 0.3% |
Housing Supply in Portsmouth, RI
How many homes are available in Portsmouth, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 97 | 104 | +7.2% |
Summary: The Portsmouth real estate market had 104 homes for sale in October 2024, a 7.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 26 | 27 | +3.8% |
| 3 Bedrooms | 36 | 42 | +16.7% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Portsmouth housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portsmouth, you may be able to get a good deal. 52.4% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Portsmouth in October 2024, up by 5.0% month-over-month. Of the 21 sold homes, 52% were sold under asking, 19% were sold at asking, and 29% were sold over asking.
Days on Market for Portsmouth, RI
How long does it take to sell a home in Portsmouth, RI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 99 Days | 42 Days | -57.4% |
Summary: Homes in Portsmouth had an average of 42 days on market in Oct 2024, down by 57.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Portsmouth has remained consistent over time.
Summary: During October 2024, 21 homes were sold in Portsmouth; 43% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
