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
Thu Jan 23 2020
This week the median list price for Narragansett, RI 02882 is $757,000 with the market action index hovering around 31. This is an increase over last month's market action index of 30. Inventory has held steady at or around 50.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $757,000 | |
| Per Square Foot | $451 | |
| Days on Market | 183 | |
| Price Decreased | 24% | |
| Price Increased | 2% | |
| Relisted | 10% | |
| Inventory | 50 | |
| Median Rent | ||
| Most Expensive | $5,250,000 | |
| Least Expensive | $159,800 | |
| Market Action | 31 | |
| Slight Seller's Advantage | ||
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,135,000 | 3,684 | 2.5 - 5 acres | 4 | 3 | 46 | 1 | 1 | 137 |
| $1,345,000 | 2,652 | 0.25 - 0.5 acre | 4 | 2 | 52 | 1 | 0 | 347 |
| $619,000 | 1,530 | 6,500 - 8,000 sqft | 3 | 2 | 65 | 1 | 2 | 128 |
| $399,500 | 874 | 8,000 - 10,000 sqft | 3 | 2 | 43 | 0 | 2 | 127 |