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

Mon Oct 21 2024
This week the median list price for Narragansett, RI 02882 is $1,324,500 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has decreased to 38. 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 Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Narragansett, RI 02882

Mon Oct 21 2024
This week the median list price for Narragansett, RI 02882 is $1,324,500 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has decreased to 38. 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 Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Narragansett market.
Median List Price $1,324,500
Median Price of New Listings $819,900
Per Square Foot $550
Average Days on Market 57
Median Days on Market 46
Price Decreased 45%
Price Increased 3%
Relisted 34%
Inventory 38
Median Rent
Market Action 37
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
$3,495,000 4,084 1 - 2.5 acres 4 4 22 0 2 63
$1,665,000 2,216 0.25 - 0.5 acre 4 3 45 0 1 56
$937,500 1,924 8,000 - 10,000 sqft 3 2 54 2 1 38
$712,400 1,308 8,000 - 10,000 sqft 3 1.5 47 1 1 35