$9,726 Closing Credit*
$819,000
2,092 SqFt
5 Beds
•2 Full Baths
Listing Office: Pascack Enterprises, Inc.
Is Narragansett, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$839,737
$494/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$89,737(+12.0%)
Key Takeaway
Homes in Narragansett have sold for 12% more than they did a year ago.
Summary: The median home sold price in Narragansett was $839,737 in October 2024, up 12% from last year, and the median price per square foot was $494.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $330K | $279.9K | -15.2% |
| 2 Bedrooms | $585K | $682.5K | +16.7% |
| 3 Bedrooms | $795K | $805K | +1.3% |
| 4 Bedrooms | $815K | $962K | +18.0% |
| 5+ Bedrooms | $1.1M | $1.0M | -13.0% |
Summary: Narragansett housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.2%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 18%, and 5+ bedroom homes decreased by 13%.
Median Sold Price Compared To Nearby Cities
| North Kingstown | $540K | $625.7K | +15.9% |
| Wakefield | $580K | $660K | +13.8% |
| Narragansett | $750K | $839.7K | +12.0% |
| South Kingstown | $582.6K | $648.2K | +11.3% |
| Saunderstown | $747K | $755K | +1.1% |
Housing Supply in Narragansett, RI
How many homes are available in Narragansett, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 93 | 84 | -9.7% |
Summary: The Narragansett real estate market had 84 homes for sale in October 2024, a 9.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 17 | 20 | +17.6% |
| 3 Bedrooms | 34 | 26 | -23.5% |
| 4 Bedrooms | 28 | 24 | -14.3% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Narragansett housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.6%, 3 bedroom homes decreased by 23.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Narragansett, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Narragansett in October 2024, down by 4.3% month-over-month. Of the 22 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 42 Days | +90.2% |
Summary: Homes in Narragansett had an average of 42 days on market in Oct 2024, up by 90.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Narragansett has remained consistent over time.
Summary: During October 2024, 22 homes were sold in Narragansett; 41% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
