A simple look at what the market is asking now.
When pricing feels uncertain, I start with what closed and what buyers were willing to pay. Last month, the median sold price was $862,500 and the median list price was $1,185,000, which tells me the asking number still has to earn its place.
Last month, a typical closed price was $862,500 while a typical asking price was $1,185,000. In Narragansett, RI, that is a useful gap to keep in mind if you are deciding whether to list now or wait for a more favorable setup. I also pay attention to the 1.78 months of inventory. That level of supply is enough to keep both sides honest, especially when a home is not perfectly aligned with the price it asks for. Anchor the price to the market. Watch the first week closely. Be ready to tighten course fast.
About Hilary Marshall
Hilary Marshall is a licensed Real Estate Professional affiliated with REMAX, specializing in the Narragansett market. With a focus on strategic marketing and deep local knowledge, Hilary Marshall provides clients with expert guidance in navigating complex real estate transactions. View full profile →
