$8,253 Closing Credit*
$695,000
960 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Lila Delman Compass
Is Narragansett, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$837,237
$494/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$87,237(+11.6%)
Key Takeaway
Homes in Narragansett have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Narragansett was $837,237 in November 2024, up 11.6% from last year, and the median price per square foot was $494.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $322.5K | $388.4K | +20.4% |
| 2 Bedrooms | $575K | $672.5K | +17.0% |
| 3 Bedrooms | $797.4K | $800K | 0.3% |
| 4 Bedrooms | $823.5K | $1.0M | +21.4% |
| 5+ Bedrooms | $1.2M | $975K | -23.8% |
Summary: Narragansett housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.4%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 23.8%.
Median Sold Price Compared To Nearby Cities
| Wakefield | $573.9K | $667.5K | +16.3% |
| North Kingstown | $540K | $626.1K | +15.9% |
| South Kingstown | $576K | $650K | +12.8% |
| Narragansett | $750K | $837.2K | +11.6% |
| Saunderstown | $733.5K | $735K | 0.2% |
Housing Supply in Narragansett, RI
How many homes are available in Narragansett, RI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 84 | 66 | -21.4% |
Summary: The Narragansett real estate market had 66 homes for sale in November 2024, a 21.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 20 | 19 | -5.0% |
| 3 Bedrooms | 24 | 16 | -33.3% |
| 4 Bedrooms | 26 | 19 | -26.9% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Narragansett housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 26.9%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 15 | -31.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Narragansett, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Narragansett in November 2024, down by 31.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 33 Days | +52.1% |
Summary: Homes in Narragansett had an average of 33 days on market in Nov 2024, up by 52.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Narragansett are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in Narragansett; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
