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

Wed Dec 11 2024
This week the median list price for Narragansett, RI 02882 is $1,250,000 with the market action index hovering around 35. This is less than last month's market action index of 38. Inventory has decreased to 23. Click here to stay informed with the Narragansett market!

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 been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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.

Narragansett, RI 02882

Wed Dec 11 2024
This week the median list price for Narragansett, RI 02882 is $1,250,000 with the market action index hovering around 35. This is less than last month's market action index of 38. Inventory has decreased to 23. Click here to stay informed with the Narragansett market!

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 been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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

Never miss important changes in the Narragansett market.
Median List Price $1,250,000
Median Price of New Listings $0
Per Square Foot $543
Average Days on Market 110
Median Days on Market 105
Price Decreased 48%
Price Increased 0%
Relisted 13%
Inventory 23
Median Rent
Market Action 35
Slight Seller's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$4,349,000 4,363 1 - 2.5 acres 4 5 22 0 0 182
$1,824,950 2,866 0.5 - 1 acre 4 3 43 0 1 73
$942,500 1,985 0.25 - 0.5 acre 3 2.3 51 0 0 98
$624,850 1,130 0.25 - 0.5 acre 2 1 64 0 0 112