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
Wed Nov 25 2020
This week the median list price for Narragansett, RI 02882 is $819,900 with the market action index hovering around 49. This is about the same as last month's market action index of 49. Inventory has held steady at or around 22.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Real-Time Market Profile
| Median List Price | $819,900 | |
| Per Square Foot | $392 | |
| Days on Market | 84 | |
| Price Decreased | 36% | |
| Price Increased | 5% | |
| Relisted | 5% | |
| Inventory | 22 | |
| Median Rent | ||
| Most Expensive | $3,700,000 | |
| Least Expensive | $450,000 | |
| Market Action | 49 | |
| Strong Seller's Market | ||
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $1,990,000 | 3,434 | 0.25 - 0.5 acre | 5 | 4 | 33 | 1 | 2 | 51 |
| $1,275,000 | 2,822 | 0.5 - 1 acre | 3 | 3 | 28 | 0 | 4 | 75 |
| $772,450 | 2,281 | 8,000 - 10,000 sqft | 4 | 3 | 115 | 1 | 3 | 141 |
| $598,450 | 1,364 | 0.25 - 0.5 acre | 4 | 2 | 35 | 1 | 4 | 60 |