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 11 2020
This week the median list price for Narragansett, RI 02882 is $709,450 with the market action index hovering around 35. This is an increase over last month's market action index of 33. Inventory has held steady at or around 60.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $709,450 | |
| Per Square Foot | $394 | |
| Days on Market | 104 | |
| Price Decreased | 22% | |
| Price Increased | 0% | |
| Relisted | 13% | |
| Inventory | 60 | |
| Median Rent | ||
| Most Expensive | $16,750,000 | |
| Least Expensive | $325,000 | |
| Market Action | 35 | |
| Slight Seller's Advantage | ||
Prices in this zip code seem to have settled around a 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 |
|---|---|---|---|---|---|---|---|---|
| $1,695,000 | 3,434 | 0.5 - 1 acre | 4 | 4 | 17 | 1 | 1 | 174 |
| $795,000 | 2,256 | 0.25 - 0.5 acre | 4 | 2 | 55 | 6 | 0 | 98 |
| $679,000 | 1,916 | 0.25 - 0.5 acre | 4 | 2 | 44 | 5 | 1 | 84 |
| $475,000 | 988 | 6,500 - 8,000 sqft | 2 | 1 | 34 | 4 | 2 | 57 |