Narragansett Real Estate Single Home Sales May 2021 Report
This is the Narragansett single home sale market in May with home sales decreasing by 9% and pending home sales are equal to the prior month. So far this year 22 single family homes have sold over $1 million compared to 10 (year to date in MLS) in 2020 in this town.
There is no question that the Narragansett RI real estate coastal home sales are busier this year compared to last year. Why are you waiting to sell? Now is the time to get ahead of the curve and sell your home with a knowledgeable RI coastal real estate agent.
As this is one of the prime southern RI coastal real estate oceanfront beach towns to reside in, Narragansett offers home buyers a variety of property choices. Narragansett homes for sale are more expensive than surrounding towns.
There is a reduced inventory of land here and house lots are usually smaller than other towns. So it is best to be prepared for the home sale market and always make sure your financing is in place when buying. Homes in all price ranges are selling equally well.
Claim your location or have plenty of cash for your Ocean Road, Great Island, Anawan Cliffs, Calef Avenue,Narragansett Pier or oceanfront Narragansett neighborhood home. The desirability never seems to lessen with home buyers here. Let us take a look at what the market is doing this month in home sales…
The current Narragansett home sale market update is as follows:
Properties active and on the market: 30 (27 in prior month) yet 8 of the ‘Active’ homes are already in sales agreement heading towards home inspection period and closing.
- Single-family properties sold in the month: 21 ( 9% less than the prior month)
- Average sales price: $ 1,490,000
- Median sales price: $ 802,000
- Sales price to list price ratio: 102% (101% last month)
- Average days on the market: 29 ( 50 days prior month)
- Sales currently pending: 30 ( same as prior month)
- Above ground average square foot cost of a sold home this year so far in Narragansett is $579.
- Highest price home sold in Narragansett this month is 0n Ocean Road at $12,000,000.
Narragansett homes sale absorption rate is 1.4 months worth of home inventory this month which is currently an extreme sellers real estate market.
2021 Narragansett May Real Estate Market Data Recap
84 homes sold (8% more homes sold) in Narragansett in January-May 2021 as compared to January-May 2020 when 78 homes were sold. The average Narragansett house still commands an above average price for the Rhode Island real estate market at $ 1,000,000 so far in 2021 as compared to January-May 2020 which was $710,000 (41% increase in average home sold prices). The average above ground square foot cost of a sold home here so far in 2021 is $579 and is a 3 bedroom, 2 bath, and 1900 above ground square foot home.
One of the neighborhoods in demand is Narragansett Pier which has a few homes on the market, homes here go into contract quickly and the price point is higher. Remember that the RI real property here, we are talking land. It is expensive so small lots are the norm especially in the beach neighborhood.
Home sales in Narragansett RI Real Estate Market this month, as follows:
Breakdown of the Narragansett home sales this month is as follows: 1 home sold under $300,000, 0 homes sold between $300,000-$400,000, 15 homes sold over $400,000 but less than $1 million and 5 homes sold for over $1 million.
- The luxury oceanfront Narragansett home market is an active market for luxury home buyers this year.
- The highest price home sold this month was $12,000,000 in the Ocean Road neighborhood .
Staying informed on Narragansett Real Estate Sales and its trending analysis is key to every homeowner who is thinking of selling. Know the home market, work with a knowledgeable local real estate agent who knows online marketing, can negotiate well on your behalf and price your home right.
Consider an agent that uses state of the art aerial videos to showcase, market and sell your Narragansett home the right way. Online marketing is a key real estate tool in marketing and successfully selling your home to set your home apart as ‘eye candy’. Consistent use of social media to promote real estate is essential to all home sellers to obtain a high price.
The Narragansett homes sale market remains busy and is still selling with home buyers. It does not seem to matter the time of year for oceanfront and near beach buying. This RI waterfront community in Washington County is known for its beaches, oceanfront beaches, seafood restaurants and good RI public schools.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you through the Narragansett maze of homes. My knowledge of Narragansett neighborhoods ( Great Island, Calef Avenue, Harbour Island, etc.) and condo complexes is an asset to you as a seller. The time to find the neighborhoods you want to live in is now.
The most current Narragansett homes for sale are here under $800,000:
The most current Narragansett homes for sale are here over $800,000:
Finding the right luxury Narragansett home for sale to fit your needs is important. You do not want to miss a wonderful location or home that meets your needs. Like a safari, the watchful eye must be out there scanning and viewing the current market continuously for that right place in Narragansett or beyond. From the side streets of Rodman and Boon Streets to Othmar, Westmoreland and Brown Streets and others, the Narragansett house hunt is the name of the game here.
Whether you are buying or selling in the RI coastal real estate market, I would love the opportunity to earn your trust and business. Having lived for many years in the Narragansett community, I know and love it well. Work with a real estate agent who has your interests first, knows how to negotiate to your benefit and knows the market.
As always, call me, Ginny Gorman, at (401) 529-7849 or email me at RiByTheBay@gmail.com so we may discuss your RI real estate options. I adore this coastline and know the neighborhoods well and my first priority is you.
“Real Estate is My Passion … Marketing Drives My Business…Both Are in my DNA”
May 2021 Narragansett RI Home Sales Market Recap