Narragansett, RI Market Report — March 2026

• Median Sale Price: $868,750, marking an increase of 8.6% QoQ and 30.1% YoY.
• Active Inventory: 82 units, an increase of 41.4% QoQ and 110.3% YoY.
• New Listings: 35 units, a 133.3% increase QoQ and 34.6% increase YoY.
• Closed Sales: 10 units, a 23.1% decrease QoQ and 9.1% decrease YoY.
• Months of Supply: 8.2 months, placing the market firmly in buyer-favored territory.
• Sale-to-List Ratio: 101.6%, showing continued price strength on closed transactions.
• Median DOM (Closed): 27.5 days, a 23.6% improvement QoQ.

Pricing precision in Narragansett shows a distinct divide between expectation and execution. The median sale price of $868,750 compared against the median original ask for sold properties of $812,500 confirms that successful sellers are achieving outcomes above their list values at the time of sale. The average sale-to-list ratio of 101.6% serves as our definitive precision metric, confirming that buyers are paying a premium to secure property in this constrained transaction environment.

Regarding trend momentum, the median sale price has increased for 2 consecutive months. The current $868,750 exceeds both the 3-month moving average of $759,583 and the 6-month moving average of $780,458, indicating sustained upward price pressure. Narragansett’s median price remains 73.3% higher than the Rhode Island state median of $501,250, and the median price per square foot of $582.93 confirms that these trends are broad-based rather than driven by property mix changes.

• For Listing Agents: Utilize the 101.6% sale-to-list ratio to set expectations; properties priced at current market value are outperforming initial list targets. Avoid the need for the average 4.2% price reduction by pricing aggressively at the outset.
• For Buyer Agents: With 50% of homes selling at or above the list price, utilize the 101.6% ratio as a benchmark when crafting competitive offers in this high-demand segment.

Supply conditions in Narragansett are currently strained by a rapid influx of inventory. The 82 active listings reflect 35 new entries against only 10 closings. This listing velocity ratio of 3.50 far exceeds the 1.5 benchmark, signaling that inventory is building rapidly. With 8.2 months of supply, the market is currently a buyer's market.

Total sales volume declined 29.6% QoQ, driven by both the 23.1% reduction in transaction count and the volatility of properties sold. The inventory spike is largely driven by single-family homes, which saw 28 new listings—a 211.1% increase QoQ. Compared to last March, the inventory volume is notably elevated; while sales are down 9.1% YoY, active inventory is up 110.3% YoY.

• For Listing Agents: As inventory reaches 82 units, the risk of "staleness" increases; differentiate your listings through premium staging and ensure they move within the first 30 days.
• For Buyer Agents: Increased supply provides more options than the previous year. Use the 8.2 months of supply to conduct thorough due diligence, particularly on properties that have remained active beyond the median DOM.

The median DOM for closed sales is 27.5 days, a 23.6% improvement QoQ. The median DOM for active inventory is 10 days, suggesting that while total inventory is rising, the "fresh" portion of the market is rotating quickly. The gap between median DOM and CDOM is narrow, indicating few instances of widespread relisting to reset market clocks.

• For Listing Agents: Capitalize on the 27.5-day median close cycle by ensuring all disclosures and pre-inspections are complete before listing to maintain transaction momentum.
• For Buyer Agents: With active inventory sitting for a median of only 10 days, maintain readiness to submit offers immediately, as the most desirable inventory is absorbed rapidly.

Narragansett is currently a balanced market with strong leanings toward buyer leverage. This assessment is supported by the 8.2 months of supply (buyer-favored), offset by the 101.6% sale-to-list ratio and 50% of homes selling at or above list price (seller-favored).

• For Listing Agents: Do not be lulled into complacency by the 101.6% sale-to-list ratio; the high supply requires a superior marketing strategy to ensure your listing is one of the 10 that closes rather than the 82 that remain active.
• For Buyer Agents: You have increased leverage due to high months of supply; prioritize properties that have been on the market for more than 30 days to maximize negotiation potential.

Price trajectory shows momentum, with a 2-month streak of increases. The current median of $868,750 remains above the 3-month average of $759,583 and 6-month average of $780,458. If the current listing velocity ratio of 3.50 persists, inventory will continue to expand, which may eventually temper price growth if buyer demand does not scale to match new listings.

Compared to last March, the inventory trend of 82 units is elevated. If the 3-month streak of rising inventory continues, sellers may face increased pressure to adjust pricing. However, given that the median DOM for closed sales has fallen 23.6% QoQ, we remain cautious as to whether this inventory expansion will lead to immediate price correction or stabilization of the recent rapid appreciation.

This report is based on MLS analytics provided by the Rhode Island Association of Realtors (riar). The analysis covers the period from March 1, 2026, to March 31, 2026. Metrics for Closed Sales and Active Inventory are derived from distinct property populations and are not interchangeable. The current period included 10 closed sales; due to this small sample size, median values may be subject to higher-than-average volatility.