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The Narragansett real estate market exhibits a moderate level of competition. Last month, the median home sale price reached $888K, reflecting a 22.4% increase from the previous year. However, the median sale price per square foot dropped to $438, experiencing a 30.3% decline from last year's value.
Median Sale Price
No. of Homes Sold
Median Days on the Market
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In Narragansett, as of June 2023, the median home sale price showed a significant increase of 22.4% compared to last year, reaching $888K. Homes typically stay on the market for about 29 days, slightly longer than the 27-day average of the previous year. The number of homes sold in June dipped slightly to 24, down from 25 the previous year.
The housing market in Narragansett can be described as moderately competitive. On average, homes stay on the market for roughly 21 days before selling, with certain popular properties being sold in as little as 6 days. While most homes sell approximately 2% below their listing price, highly sought-after properties may fetch around 1% above the asking price.
Absolutely! Narragansett, RI is a fantastic place to live, offering a suburban feel with the majority of residents owning their homes. It's a popular choice for young professionals and retirees alike, with a tendency towards liberal values.
Known for its beaches and summer recreation, including the Fishermen's Memorial State Park and its former military fort, it provides an appealing blend of history, nature, and seaside living.