This Week's Real Estate Market Report

Narragansett, RI 02882

Single-Family Homes

The Hogan Associates Real Estate Team | 401-924-1774 | info@hoganassociatesre.com



Narragansett, RI 02882

Tue May 21 2019
This week the median list price for Narragansett, RI 02882 is $744,450 with the market action index hovering around 30. This is less than last month's market action index of 33. Inventory has held steady at or around 72. Click here to stay informed with the Narragansett market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Today
Last Month

Slight Seller'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.

Narragansett, RI 02882

Tue May 21 2019
This week the median list price for Narragansett, RI 02882 is $744,450 with the market action index hovering around 30. This is less than last month's market action index of 33. Inventory has held steady at or around 72. Click here to stay informed with the Narragansett market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Today
Last Month

Slight Seller'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

Never miss important changes in the Narragansett market.
Median List Price $744,450
Per Square Foot $399
Days on Market 136
Price Decreased 33%
Price Increased 3%
Relisted 21%
Inventory 72
Median House Rent
Most Expensive $4,000,000
Least Expensive $199,800
Market Action Index
Slight Seller's Advantage
30

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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
$1,424,500 2,569 0.5 - 1 acre 4 3 32 3 2 135
$875,450 1,912 0.25 - 0.5 acre 3 2 50 0 0 197
$645,000 1,882 0.25 - 0.5 acre 3 2 31 1 0 115
$448,000 1,088 0.25 - 0.5 acre 3 1 53 2 3 99