Narragansett Housing Market Report February 2025•Washington County, Rhode Island

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Housing Prices in Narragansett, RI

How much do homes in Narragansett, RI cost?

Housing Market Conditions

Is Narragansett, RI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Narragansett is a Neutral Market

Difference Since February 2024

At the same time last year, Narragansett was a Buyer's Market.

Insight

Narragansett is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$839,475$492/SqFt
+$39,525
+4.9%

Based on all homes sold in the last 12 months

Insight

Homes in Narragansett have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Narragansett was $839,475 in February 2025, up 4.9% from last year, and the median price per square foot was $492.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Wakefield
+17.2%
North Kingstown
+14.9%
South Kingstown
+13.3%
Narragansett
+4.9%
Saunderstown
-20.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2024Feb 2025Change YoY
1$315K$272.4K
-13.5%
2$600K$675K
+12.5%
3$815K$780K
-4.3%
4$825K$1.0M
+30.0%
5$1.1M$1.0M
-2.2%

Summary: Narragansett housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -13.5%. The home price for 2 bedroom homes increased by +12.5%. The home price for 3 bedroom homes decreased by -4.3%. The home price for 4 bedroom homes increased by +30.0%. The home price for 5 bedroom homes decreased by -2.2%.

How does Narragansett, RI compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Narragansett, RI

Housing supply in Narragansett, RI

How many homes are available in Narragansett, RI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
50Last MonthFeb 2025
422 months agoJan 2025
+19.0 %
Change MoMJan – Feb

Summary: The Narragansett real estate market had 50 homes for sale in Feb 2025, a 19.0 % increase compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
8Last MonthFeb 2025
122 months agoJan 2025
-33.3 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
110
-100.0%
21216
+33.3%
31215
+25.0%
41115
+36.4%
564
-33.3%

Summary: Narragansett housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -100.0%. The inventory for 2 bedroom homes increased by +33.3%. The inventory for 3 bedroom homes increased by +25.0%. The inventory for 4 bedroom homes increased by +36.4%. The inventory for 5 bedroom homes decreased by -33.3%.

Asking Price vs. Sold Price

How much do homes in Narragansett, RI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price1 Home

Under Asking Price5 Homes

Insight

If you're buying a home in Narragansett, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Narragansett in February 2025, down by 33.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and and 25% were sold over asking.

Days on Market for Narragansett, RI

How long does it take to sell a home in Narragansett, RI?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days2 Homes

Over 90 Days3 Homes

Insight

Many homes in Narragansett are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 8 homes were sold in Narragansett; 38% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
68 DaysThis YearFeb 2025
64 Days1 year agoFeb 2024
+4.9 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Narragansett had an average listing age of 68 days in Feb 2025, up by 4.9% compared to the previous year.

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Newest Listings in Narragansett, RI

What homes are available in Narragansett, RI?

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Nearby markets

Popular Cities with Homes for Sale in Rhode Island

MLS Disclaimers and Copyright

Based on information from Rhode Island State Wide MLS, for the period 03/01/2023 - 03/01/2025

Disclaimer: The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than this broker are marked with the MLS logo and detailed information about them includes the name of the listing brokers. The purchase price of housing stock as shown on this website may vary depending on factors such as fees, commissions, price negotiations, home inspection results, market conditions, etc. This website in no way warrants or represents that submitting an offer to purchase a property for the list price will result in a sale at that price. Please consult with your REALTOR® to discuss how these variations may affect your real estate transaction. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable, but is neither guaranteed nor independently verified. Interested parties must make their own inquiries. Copyright © 2025 State-Wide MLS, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/13/2025, 5:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.