$9,013 Closing Credit*
$759,000
2,003 SqFt
2 Beds
•2 Full Baths
Listing Office: RI Real Estate Services
Is Narragansett, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Narragansett has remained a Seller's Market.
Key Takeaway
Narragansett is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Narragansett, RI
How much do homes in Narragansett, RI cost?
Median Sold Price
$825,000
$487/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$80,750(+10.8%)
Key Takeaway
Homes in Narragansett have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Narragansett was $825,000 in September 2024, up 10.8% from last year, and the median price per square foot was $487.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | $239K | -36.3% |
| 2 Bedrooms | $549K | $685K | +24.8% |
| 3 Bedrooms | $795K | $780K | -1.9% |
| 4 Bedrooms | $807.5K | $957.5K | +18.6% |
| 5+ Bedrooms | $1.2M | $1.0M | -15.0% |
Summary: Narragansett housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.3%, 2 bedroom homes increased by 24.8%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes decreased by 15%.
Median Sold Price Compared To Nearby Cities
| North Kingstown | $545K | $611K | +12.1% |
| Wakefield | $584.5K | $649.6K | +11.1% |
| Narragansett | $744.2K | $825K | +10.8% |
| South Kingstown | $584K | $644.1K | +10.3% |
| Saunderstown | $817.4K | $810K | -0.9% |
Housing Supply in Narragansett, RI
How many homes are available in Narragansett, RI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 89 | 102 | +14.6% |
Summary: The Narragansett real estate market had 102 homes for sale in September 2024, a 14.6% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 18 | 19 | +5.6% |
| 3 Bedrooms | 30 | 37 | +23.3% |
| 4 Bedrooms | 27 | 30 | +11.1% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Narragansett housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Narragansett, you may be able to get a good deal. 60.9% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Narragansett in September 2024, up by 35.3% month-over-month. Of the 23 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.
Days on Market for Narragansett, RI
How long does it take to sell a home in Narragansett, RI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 43 Days | 33 Days | -22.3% |
Summary: Homes in Narragansett had an average of 33 days on market in Sep 2024, down by 22.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Narragansett are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 23 homes were sold in Narragansett; 61% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
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