Single-Family Homes
Mon Mar 01 2021
This week the median list price for Narragansett, RI 02882 is $949,000 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has held steady at or around 17.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. 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.
Median List Price | $949,000 | |
Per Square Foot | $465 | |
Days on Market | 70 | |
Price Decreased | 18% | |
Price Increased | 0% | |
Relisted | 0% | |
Inventory | 17 | |
Median Rent | ||
Most Expensive | $13,950,000 | |
Least Expensive | $125,900 | |
Market Action | 46 | |
Strong Seller's Market |
We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up-shift in the Market Action Index before we see prices move significantly from here.
Each segment below represents approximately 25% of the market ordered by price.
Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
---|---|---|---|---|---|---|---|---|
$3,075,000 | 5,093 | 1 - 2.5 acres | 5 | 6 | 58 | 0 | 0 | 84 |
$1,097,500 | 2,556 | 1 - 2.5 acres | 3 | 2 | 99 | 2 | 0 | 3 |
$799,000 | 2,313 | 8,000 - 10,000 sqft | 4 | 2 | 25 | 0 | 0 | 35 |
$649,900 | 1,386 | 0.25 - 0.5 acre | 4 | 1 | 65 | 1 | 2 | 84 |