How is Newport County's real estate market? Home prices rose 8% over a year

Sean Lahman
·2 min read

The median sales price for a single-family home in Newport County during July was $545,000. That's an increase of 8.1% compared with July 2020, according to data from Realtor.com.

The number of houses sold rose by 12.1% from a year earlier. A total of 102 houses were sold county-wide during the month of July. During the same period a year earlier, 91 single-family homes were sold.

Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Condominiums and town homes sold in July had a median sales price of $520,000. That figure represents a 50.7% increase year-over-year. In Newport County, 22 were sold, up 10% from a year earlier.

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Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.

The top 10% of the properties sold had prices of at least $1,005,000, down 8.6% from a year before.

In July, 16 properties sold for $1 million or more: 10 single-family homes, one condominium or townhome and five other properties.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

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The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. The story was written by Sean Lahman.

This article originally appeared on The Providence Journal: Newport County's average home sold for a higher price than last year