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 31 2021
This week the median list price for Narragansett, RI 02882 is $750,000 with the market action index hovering around 55. This is an increase over last month's market action index of 54. Inventory has increased to 41. 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.

Strong Seller's Market

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Narragansett, RI 02882

Sat Jul 31 2021
This week the median list price for Narragansett, RI 02882 is $750,000 with the market action index hovering around 55. This is an increase over last month's market action index of 54. Inventory has increased to 41. 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.

Strong Seller's Market

The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.

Real-Time Market Profile

Never miss important changes in the Narragansett market.
Median List Price $750,000
Median Price of New Listings $739,450
Per Square Foot $485
Average Days on Market 51
Median Days on Market 21
Price Decreased 20%
Price Increased 2%
Relisted 7%
Inventory 41
Median Rent
Market Action 55
Strong Seller's Market

Again this week we see a downward notch for prices in this zip code. Pricing has been weak recently and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

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
$1,838,500 3,660 0.5 - 1 acre 4 3 19 1 3 66
$824,900 1,960 0.25 - 0.5 acre 4 2 49 2 2 17
$712,000 1,417 0.25 - 0.5 acre 3 2 36 2 3 24
$575,000 864 6,500 - 8,000 sqft 2 1 60 3 4 21