Narragansett RI Real Estate Market May 2024 Update

Narragansett Home Sale Market May 2024



Find the Best Homes and Condominiums for Sale in Narragansett Here


This is the current Narragansett real estate market for single family homes with closings 9% higher than the prior month.  Pending home sales are up by 21% over the same period.

This home sale market data is shared with you by Ginny Gorman, top selling RI coastal real estate agent, soNarragansett RI Real Estate Market May 2024 Update you are in the know.

Looking back Narragansett RI real estate coastal home sales are less in 2024 compared to 2023.  Single family home sales are down by 27% with an average 11% increase in home sold prices (+14% increase in median sale prices) in 2024 as compared to 2023 y-t-d.


As this is one of the prime southern RI coastal real estate oceanfront towns to reside in,  Narragansett offers home buyers numerous choices.

Narragansett RI Homes for Sale May 2024 Report
Claim your location or have cash for your Ocean Road, Great IslandAnawan CliffsCalef Avenue, Narragansett Pier or other home locations. The desirability never lessens with home buyers here.

The current Narragansett home sales market update is as follows:

Properties active and on the market: 50 (27 homes in the prior month) yet 6 of these ‘Active’ homes are already in sales agreement.

  • Single-family properties sold in the month: 12 (11 in the prior month)
  • Average sales price: $901,000
  • Median sales  price: $790,000 
  • Sales price to list price ratio: 97%
  • Average days on the market: 23
  • Sales currently pending: 17  
  • Average above ground square foot cost of a sold home this year so far is $670  (median price per square foot is $618).
  • Highest price home sold in Narragansett this month is in the Great Island neighborhood at $1,900,000. 

Narragansett homes sale absorption rate is 4.1 months of home inventory which is currently a sellers real estate market.

2024 January-May Narragansett Real Estate Market Sales Data:

46 single family homes sold in Narragansett so far in 2024 as compared to 63 homes in January-May 2023.   The average Narragansett house still commands an above average price for the Rhode Island real estate market at $1,057,000 in 2024 so far (median price is $795,000).  Comparing these prices to the same time period in 2023 which were $951,000 on average (median price $700,000).   It is a 3 bedroom, 2 bath, and 1600 above ground square foot home is the typical home sold too.  

Narragansett homes sold in so far in 2024 are 27% less than in January-May 2023.  The average home sale price is up by 11% (median price is +14% over January-May 2023). 

One of the neighborhoods in demand is Narragansett Pier which is highly desirable.  Remember that the RI real property here is land.  Land is expensive so small lots with homes are the norm.

Home sales in Narragansett Real Estate Market this month are as follows:

The following is a breakdown of the Narragansett home sales this month: home sold under $300,000, 1 home sold between $300,000-$400,000, homes sold over $400,000 but less than $1 million and 3 homes sold for over $1 million.

I am a RI coastal Narragansett licensed Realtor that uses state of the art aerial videos to showcase, market and sell homes.  Online marketing is a key real estate tool in marketing that brings in strong buyers.  Successfully selling your home by setting it apart as ‘eye candy’ wins every time. My marketing toolbox is full of strategic ideas for my clients.

The Narragansett homes sale market is desired with home buyers.   This RI waterfront community is widely appreciated for its oceanfront beaches.

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 IslandCalef AvenueHarbour Island, etc.) and condo complexes works for you as a seller or buyer.  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:


The most current Narragansett condos for sale are here too:


Finding the right luxury Narragansett home for sale to fit your needs is important.  Like a safari, the watchful eye must be out there scanning and viewing the current market continuously.  Whether that right place is in Narragansett and  beyond. From the side streets of Rodman and Boon Streets to Othmar, Westmoreland and Brown Streets and others, the search is the name of the game here.

Whether you are buying or selling in the RI coastal real estate market, I know this home market well.  Having lived for many years in the Narragansett community my expertise will work for you.  Work with a real estate agent who has your interests first, knows how to negotiate to your benefit and knows how to deliver your home to buyers at top pricess.

Reach out to me, Ginny Gorman, by email at or call me at 401.529.7849 to discuss listing your Narragansett house for sale or for buying a home.  Know why trust and integrity in me is paramount to my clients.   I work with top Realtors across the country as well if you are looking in other states to buy.

“Real Estate is My Passion … Marketing Drives My Business… Both Are in my DNA”

May 2024 Narragansett Home Sale Market Report recap is here for all home sellers and buyers.


As always, call me, Ginny Gorman, at (401) 529-7849 or email me at so we may discuss your RI real estate options.  I know and love this coastline of homes, negotiate and price homes well for my clients.  My first priority is you and your needs always.