Reportedly, I saw a sight! (7)
I believe the answer is:
eyesore
'a sight' is the definition.
(eyesore can mean a horrible sight)
'reportedly i saw' is the wordplay.
'reportedly' indicates a 'sounds like' (homophone) clue.
'saw' becomes 'sore' (I am not sure about this - if you are sure you should believe this answer much more).
'i' sounds like 'eye'.
'eye'+'sore'='EYESORE'
(Other definitions for eyesore that I've seen before include "Blemish" , "Ugly sight, not nice to see" , "Monstrosity" , "Unpleasant sight" , "Ugly and offensive sight" .)