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 Jun 24 2024
This week the median list price for Narragansett, RI 02882 is $1,195,000 with the market action index hovering around 36. This is less than last month's market action index of 40. Inventory has increased to 42. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Narragansett, RI 02882

Mon Jun 24 2024
This week the median list price for Narragansett, RI 02882 is $1,195,000 with the market action index hovering around 36. This is less than last month's market action index of 40. Inventory has increased to 42. 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

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Narragansett market.
Median List Price $1,195,000
Median Price of New Listings $1,295,000
Per Square Foot $665
Average Days on Market 25
Median Days on Market 14
Price Decreased 26%
Price Increased 0%
Relisted 14%
Inventory 42
Median Rent
Market Action 36
Slight Seller's Advantage

Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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
$4,622,500 3,180 8,000 - 10,000 sqft 4 3.3 40 1 0 14
$1,559,500 2,482 0.25 - 0.5 acre 4 3 53 2 2 14
$950,000 1,830 0.25 - 0.5 acre 3 2 56 2 1 14
$699,000 1,190 4,500 - 6,500 sqft 3 1.5 64 0 2 21