Charlestown RI Real Estate Market January 2015

Charlestown RI Real Estate Market January 2015

 

The Charlestown RI real estate market this January is feeling the winter ice chill as home buying has dropped 23% over the prior month but increased by 11% over January 2014.  As you look back at the Charlestown RI Real Estate Market January 2015home sales in Charlestown in 2014, it shows an upwards home sale trend of 18% over 2013.  As we enter the new year market, prospects are good for a continued positive real estate market here.

 

And home buyers need to be ready, willing and able to buy on homes especially in the under $300,000 range.  What is needed now is available inventory in this price range by home sellers.  This Charlestown RI real estate market update is provided by Ginny Lacey Gorman of RI coastal real estate.

Furthermore, home buyers have indicated they want well priced homes that need little updating.  There are five factors that will sell your home well.  Ensuring that you price and stage your home properly is key.

It is important to note that 17% of the homes for sale here are luxury and waterfront homes which can skew sold home prices higher.   Ensure you work with a professional who knows real estate well.  When you have the Atlantic Ocean at many doorsteps, home prices can be in the higher range.  This month saw no homes on the ocean or luxury homes close for over $1 million.

This is a true waterfront and rural community depending upon your location desire for a Charlestown home.  It is wonderful to be able to have that choice in this RI town.

Home sales here for the month of January are down by 23% over the prior month  probably due to the inclement weather and pending home sales are equal to the prior month.  

Although no million dollar plus homes sold this month, the over $1 million homes sold in 2014 were double the number sold in 2013.  As they say, oceanfront and waterfront…well they are not making anymore of this property! It will be interesting to see if 2015 follows this trend.   Consider buying now for yourself or for generations to come and buying as an extended family.  It is a great way to spend family time by the shore.

Home buyers are actively seeking good property values and lower priced affordable homes under $300,000 with lower real estate taxes.  This makes Charlestown a highly desirable community to buy into.

What does this town offer home buyers?  It is closer to Connecticut, to a wonderful ocean area retreat and offers oceanfront residences as well as country homes for the home buyer.  It is the stunning coastline, quiet neighborhoods, beach side homes and serene landscapes that draw home buyers to this Charlestown location.   Here is the Charlestown January 2015 home sales update for the month, as follows:

  • Properties active and on the market: 66 ( 8% more homes than prior month)
  • Single-family properties closed: 10 ( 23% decrease over prior month) 
  • Average sales price: $420,000 
  • Median sales  price: $407,000  
  • Sales price to list price ratio: 95% (97% last month)
  • Average days on the market: 122 (2% less than prior month)
  • Sales currently pending: 12 (same as prior month)

 So the home sales are up by 11% in January 2015 over January 2014, average home sold price up by 10% which all bodes well for this real estate market in 2015.

Charlestown RI Real Estate Market January 2015 

Charlestown RI Real Estate Market January 2015

Charlestown’s home absorption rate is now a balanced 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.
      • Breakdown of the 10 Charlestown RI home sales is as follows for the month: 3 homes sold under $300,000, 2 homes sold between $300,000-$400,000 and 5 homes sold over $400,000 but less than a million dollars and no homes sold for over $1 million.

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 neighborhood too if you are looking at true oceanfront, walk to water or an oceanfront Charlestown homes for sale find.

Past Charlestown RI Market Reports you may be interested in are highlighted below:

December 2014 Charlestown RI Real Estate Market Report Yearend

November 2014 Charlestown RI Real Estate Market Report

October 2014 Charlestown RI Real Estate Market Report

September 2014 Charlestown RI Real Estate Market Report

Here are some of the hottest Charlestown homes for sale:

Looking for a Charlestown RI luxury real estate agent ? Ginny Lacey Gorman knows her local RI coastal real estate market well.  Knowing current FEMA flood map changes, building construction needs in coastal areas and staying abreast of RI septic changes is a part of my real estate skills set.  Whether you are interested in Charlestown coastal property or country living, Ginny will guide you well in selling or buying a home.

Charlestown RI Real Estate Market January 2015

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Ginny Lacey Gorman is your go to Charlestown RI waterfront and luxury real estate agent for southern RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information. Email her at Ginny@RiHouseHunt.com to make an appointment to discuss your real estate needs.
 
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 real estate market, call Ginny Gorman at 401.529.7849 today.

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