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
Sun Apr 27 2025
This week the median list price for Narragansett, RI 02882 is $1,195,000 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has increased to 37.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
The market has started cooling and prices have been flat for several weeks. Since 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
| Median List Price | $1,195,000 | |
| Median Price of New Listings | $1,060,000 | |
| Per Square Foot | $569 | |
| Average Days on Market | 49 | |
| Median Days on Market | 21 | |
| Price Decreased | 22% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 37 | |
| Median Rent | ||
| Market Action | 38 | |
| Slight Seller's Advantage | ||
Prices in this zip code are bouncing around near term trough. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
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 |
|---|---|---|---|---|---|---|---|---|
| $2,495,000 | 3,116 | 0.25 - 0.5 acre | 4 | 3.5 | 43 | 1 | 0 | 21 |
| $1,295,000 | 1,392 | 0.25 - 0.5 acre | 3 | 2 | 76 | 1 | 0 | 14 |
| $995,000 | 1,932 | 8,000 - 10,000 sqft | 3 | 2 | 59 | 3 | 1 | 7 |
| $787,000 | 1,772 | 0.25 - 0.5 acre | 3 | 2 | 57 | 1 | 1 | 35 |