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.
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
$650,000
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Portsmouth have sold for 5.9% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Portsmouth, expect to pay close to the asking price. 35.7% of homes here sold near the asking price last month.
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
Key Takeaway
Many homes in Portsmouth are selling fast, if you're buying plan to act quickly.
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.
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.