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 Mar 30 2023
This week the median list price for Narragansett, RI 02882 is $1,675,000 with the market action index hovering around 44. This is an increase over last month's market action index of 39. Inventory has decreased to 17.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.
Real-Time Market Profile
| Median List Price | $1,675,000 | |
| Median Price of New Listings | $2,295,000 | |
| Per Square Foot | $768 | |
| Average Days on Market | 114 | |
| Median Days on Market | 70 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 12% | |
| Inventory | 17 | |
| Median Rent | ||
| Market Action | 44 | |
| Slight Seller's Advantage | ||
The market for this zip code continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index to predict how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,620,000 | 3,005 | 0.25 - 0.5 acre | 4 | 3.5 | 34 | 1 | 0 | 185 |
| $2,022,500 | 2,763 | 0.25 - 0.5 acre | 6 | 3.5 | 123 | 1 | 1 | 56 |
| $1,048,450 | 1,568 | 4,500 - 6,500 sqft | 2 | 2 | 66 | 0 | 0 | 38 |
| $589,000 | 924 | 0.25 - 0.5 acre | 3 | 1 | 43 | 1 | 1 | 91 |