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 Jul 27 2024
This week the median list price for Narragansett, RI 02882 is $1,322,500 with the market action index hovering around 40. This is about the same as last month's market action index of 40. Inventory has decreased to 38.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $1,322,500 | |
| Median Price of New Listings | $1,299,000 | |
| Per Square Foot | $665 | |
| Average Days on Market | 36 | |
| Median Days on Market | 35 | |
| Price Decreased | 34% | |
| Price Increased | 0% | |
| Relisted | 32% | |
| Inventory | 38 | |
| Median Rent | ||
| Market Action | 40 | |
| 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 |
|---|---|---|---|---|---|---|---|---|
| $4,750,000 | 3,958 | 0.5 - 1 acre | 4 | 3 | 36 | 0 | 0 | 35 |
| $1,665,000 | 2,216 | 0.25 - 0.5 acre | 4 | 2.5 | 64 | 1 | 0 | 7 |
| $1,064,500 | 2,076 | 0.25 - 0.5 acre | 4 | 2.5 | 62 | 0 | 2 | 31 |
| $699,000 | 1,039 | 6,500 - 8,000 sqft | 2 | 1 | 65 | 1 | 1 | 28 |