This Week's Real Estate Market Report

Narragansett, RI 02882

Single-Family Homes

The Hogan Associates Real Estate Team | 401-845-9500 | info@hoganassociatesre.com


Narragansett, RI 02882

Sat Apr 27 2024
This week the median list price for Narragansett, RI 02882 is $1,124,499 with the market action index hovering around 43. This is less than last month's market action index of 48. Inventory has increased to 22. Click here to stay informed with the Narragansett market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Narragansett, RI 02882

Sat Apr 27 2024
This week the median list price for Narragansett, RI 02882 is $1,124,499 with the market action index hovering around 43. This is less than last month's market action index of 48. Inventory has increased to 22. Click here to stay informed with the Narragansett market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Narragansett market.
Median List Price $1,124,499
Median Price of New Listings $875,000
Per Square Foot $667
Average Days on Market 116
Median Days on Market 42
Price Decreased 23%
Price Increased 5%
Relisted 27%
Inventory 22
Median Rent
Market Action 43
Slight Seller's Advantage

In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$3,895,000 3,273 0.25 - 0.5 acre 5 3.5 44 1 0 98
$1,800,000 2,226 0.25 - 0.5 acre 4 2.5 94 1 0 133
$812,000 1,548 0.25 - 0.5 acre 4 1.8 61 1 1 24
$524,500 882 8,000 - 10,000 sqft 2 1 51 2 1 10