Narragansett RI Real Estate Market May 2011

Narragansett Market Report May 2011

Scarborough State Beach Narragansett


Narragansett RI Real Estate Market May 2011


Narragansett RI Real Estate Market May 2011 is as follows:

15 Narragansett homes have been sold in the past month:

1 home sold over $1.9 million (waterfront)
4 homes sold over $400,000
5 homes sold for between $300,000-$400,000
5 homes sold for under $300,000


There were 222 Narragansett homes for sale in May 2011 which was a  12 % increase over the prior month (24 more homes for sale).  The increase in home inventory benefits buyers looking for homes right now in RI real estate.


Why do I share Narragansett RI real estate statistics with you the consumer month after month?  First and foremost, it is to give you a better insight into the number of Narragansett homes for sale, price range of homes sold and real estate market trends month to month for the Narragansett neighborhoods that interest you. If your are a Narragansett home seller, it gives you information on recent home sales for the pricing of your home.  


Narragansett continues to have a good supply of homes for sale and the oceanfront and coastal Narragansett homes for sale are selling.  Honestly, the sales were spread out among all price levels this past month which means that if the location, condition and price for a home is right it will be a seller.

Mortgage rates have dropped again and remain at great low rates.  It is the best time for Narragansett home buyers to find the neighborhood of their choice and then their targeted price range.  Consider Anawan Cliffs, Great Island or Harbour Island to name a few.  Prices continue to be at attractive levels for buyers right now with great lending terms and rates to match.  I can recommend a number of lenders to pre-qualify you if you are at a loss who to see.

Pending home sales have decreased by 3 homes over April 2011 and there are 19 homes in pending status in Narragansett RI. It is a brighter outlook of the market when pending home sales remain steady.

Current homes for sale between $300,000-$800,000:

Out of state buyers continue to search for Narragansett oceanfront and coastal homes for sale.   I do expect real estate to be remain active this summer in all price ranges and especially for beach and vacation homes.  People are still moving and buying homes in Narragansett remember!  When you have the best state and town beaches here, it is always a draw for buyers.


  Narragansett RI Real Estate Market May 2011.


Ginny Lacey Gorman is your go to North Kingstown Real Estate agent for homes in Narragansett RI and beyond…knowing the geographic area, schools, happenings,important tidbits of information and businesses well.


She’s the RI Real Estate agent with the Sparkly Red Shoes. Waterfront, oceanfront, luxury and coastal RI homes for sale are her specialty but all of RI is her backyard.

When you are in need of a good professional for your buying and selling needs and an internet savvy marketer who sells RI houses in this real estate market – call Ginny at 401.529.7849.