Is Portsmouth, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Portsmouth has remained a Seller's Market.
Housing Prices in Portsmouth, RI
How much do homes in Portsmouth, RI cost?
Median Sold Price
$650,000
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Portsmouth was $650,000 in April 2024, up 5.9% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $410K | $285K | -30.5% |
2 Bedrooms | $455K | $580K | +27.5% |
3 Bedrooms | $602K | $610K | +1.3% |
4 Bedrooms | $856.5K | $788K | -8.0% |
5+ Bedrooms | $1.2M | $3.9M | +211.6% |
Summary: Portsmouth housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.5%, 2 bedroom homes increased by 27.5%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 211.6%.
Median Sold Price Compared To Nearby Cities
Tiverton | $425K | $470K | +10.6% |
Portsmouth | $613.5K | $650K | +5.9% |
Housing Supply in Portsmouth, RI
How many homes are available in Portsmouth, RI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
83 | 74 | -10.8% |
Summary: The Portsmouth real estate market had 74 homes for sale in April 2024, a 10.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 25 | 21 | -16.0% |
3 Bedrooms | 32 | 34 | +6.3% |
4 Bedrooms | 16 | 13 | -18.8% |
5+ Bedrooms | 7 | 3 | -57.1% |
Summary: The Portsmouth housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes decreased by 57.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 14 | -51.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Portsmouth in April 2024, down by 51.7% month-over-month. Of the 14 sold homes, 29% were sold under asking, 36% were sold at asking, and 36% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
67 Days | 54 Days | -19.7% |
Summary: Homes in Portsmouth had an average of 54 days on market in Apr 2024, down by 19.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in Portsmouth; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.