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
Sat Dec 03 2022
This week the median list price for Narragansett, RI 02882 is $899,000 with the market action index hovering around 28. This is less than last month's market action index of 33. Inventory has decreased to 43.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.
Real-Time Market Profile
| Median List Price | $899,000 | |
| Median Price of New Listings | $689,000 | |
| Per Square Foot | $637 | |
| Average Days on Market | 94 | |
| Median Days on Market | 70 | |
| Price Decreased | 42% | |
| Price Increased | 2% | |
| Relisted | 28% | |
| Inventory | 43 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
We continue to see prices in this zip code bouncing around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $2,942,500 | 3,268 | 0.25 - 0.5 acre | 5 | 3.5 | 38 | 0 | 3 | 112 |
| $1,195,000 | 1,740 | 8,000 - 10,000 sqft | 3 | 2 | 67 | 0 | 0 | 63 |
| $799,900 | 1,603 | 0.25 - 0.5 acre | 3 | 2 | 52 | 1 | 0 | 56 |
| $649,800 | 960 | 6,500 - 8,000 sqft | 3 | 1 | 46 | 2 | 3 | 56 |