Charlestown RI Home Sale Market Report January 2014

Charlestown RI Home Sale Market Report January 2014

 

Charlestown RI estate market in January 2014 is provided by Ginny Lacey Gorman of RI coastal real estate.

A waterfront and rural land community awaits you here depending upon your desire for your Charlestown real estate location.  Home sales here for the month of January are up up 80% over the prior month and home sale prices are up also.  The start of the 2014 real estate market in Charlestown has started off well considering the wintry weather at hand.

Home buyers are actively seeking good land values, which are at a premium, and lower priced affordable homes under $400,000.  Both of these real estate gems will be ‘hot’ this year.

Charlestown RI Home Sale Market Report January 2014

Charlestown RI waterfront home

Nestled in the southern part of Rhode Island, between the towns of Westerly and South Kingstown RI, this town offers coastal front as well as country homes for the discriminating buyer.  It is the amazing coastline,beach side homes and serene landscapes that draw home buyers to this Charlestown location.   Here is the January 2014 home sales update for the month, as follows:

  • Properties active and on the market75 ( 3 homes more than prior month)
  • Single-family properties closed: 9 ( up by 80% over last month)
  • Average sales price:                    $ 583,000 (18% increase over prior month)
  • Median sales  price:                     $ 281,000 
  • Sales price to list price ratio: 94% (96% for prior month)
  • Average days on the market: 96 (9% increase over prior month)
  • Sales currently pending: 9 (up by 1 sale over prior month)
oceanfront beach in Charlestown RI real estate

Charlestown RI real estate sales increased substantially January.   Two luxury oceanfront homes sold for $1 million and over this month.

Now with the changes in flood plains and insurance, waterfront homes will be evaluated with these factors in  mind with future sales.  Taking steps to protect your real estate along the coast is a must for homeowners now.

Charlestown’s home absorption rate remains a buyers real estate market.

  • Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the current real estate market.

      • Home inventory increased in January, pending sales increased by 1 home and Charlestown RI home closings increased by 4 homes over the prior month.

      • Breakdown of the 9 Charlestown RI home sales is as follows for the month: 5 homes sold under $300,000, 2 homes sold between $300,000-$400,000 and 2 homes sold over $1 million.     Charlestown RI homes sales still indicate that the best value for location, taxes and coastal living is the under $300,000 home market here where the strongest housing demand is. 

Charlestown RI Home Sale Market Report January 2014

Reflecting upon the change in Charlestown home sales prices and numbers from 2012 to 2013 that showed a slowing in this home market.  However, January showed a much better trend than expected.  Comparing January 2013 to January 2014, home sales are up 50%!

 

Year Homes Sold Average Sales Price List Price/Sale Price Days on Market
2012 147 $457,000 94% 128
2013 112 $412,000 95% 128

 

From coastal Charlestown homes to the rural country homes.  You are never far from the ocean and the Rhode Island beaches here.  It is a great time to buy in the Quonnie area too if you are looking at true waterfront and walk to water or oceanfront Charlestown homes for sale.

Always check the flood zones out with your insurance agent before making an offer on a home.   The increases to flood insurance premiums have gone into effect as  of 2013. 

Looking for a Charlestown RI waterfront real estate agent ? Ginny Lacey Gorman knows her RI coastal real estate market.  I would love the opportunity to assist you in your search or sale.  Knowing current FEMA flood map changes, building construction needs in coastal areas and staying abreast of RI septic changes is a part of my skills set.

 


Thank you for reading the Charlestown RI real estate report update for January 2014.

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 Ginny Lacey Gorman is your go to Charlestown waterfront Rhode Island real estate agent…knowing the Charlestown RI geographic area, schools, happenings and important tidbits of local information.  Email her at ginny@RIHouseHunt.com to make an appointment to find the home of your dreams too!
 
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this RI real estate market call Ginny at 401.529.7849.

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