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 Oct 16 2021
This week the median list price for Narragansett, RI 02882 is $875,000 with the market action index hovering around 49. This is an increase over last month's market action index of 47. Inventory has decreased to 35.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Real-Time Market Profile
| Median List Price | $875,000 | |
| Median Price of New Listings | $862,400 | |
| Per Square Foot | $535 | |
| Average Days on Market | 65 | |
| Median Days on Market | 49 | |
| Price Decreased | 34% | |
| Price Increased | 0% | |
| Relisted | 9% | |
| Inventory | 35 | |
| Median Rent | $2,600 | |
| Market Action | 49 | |
| Strong Seller's Market | ||
We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. 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 |
|---|---|---|---|---|---|---|---|---|
| $1,646,250 | 3,841 | 0.5 - 1 acre | 4 | 4 | 20 | 0 | 1 | 80 |
| $1,050,000 | 1,616 | 8,000 - 10,000 sqft | 3 | 2 | 33 | 2 | 0 | 28 |
| $839,900 | 2,024 | 0.25 - 0.5 acre | 4 | 2 | 42 | 1 | 0 | 42 |
| $549,000 | 1,048 | 6,500 - 8,000 sqft | 3 | 2 | 48 | 1 | 2 | 49 |