Charlestown Home Sale Update March 2016
The Charlestown RI home sale market in March 2016 is having a pullback in real estate sales over the prior month with sales down by 27%. As you look back at the home sales in Charlestown for 2016 as compared to 2015 (comparing the first three months of the years), it shows a 9% increase in number of home sales year over year. Home sold values have decreased by 2% over 2015 so far this year. The home value drop is due to the lack of higher end homes not selling well yet for this community.
Home buyers need to be ready, willing and able to buy on homes especially in the under $300,000 price range. Sellers do call me now as I have buyers waiting for homes to buy in the under $300,000 price range. We are moving forward to the late spring market and the right priced home inventory is lacking. 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 in the best manner so understand them. Ensuring that you price and stage your home properly is certainly key.
Ensure you work with a real estate professional who knows the real estate area well that you are buying into. When you have the Atlantic Ocean at many oceanfront doorsteps, home prices can be in the higher range.
This is a mixture of a waterfront and rural community living depending upon your location desire for Charlestown RI homes. It is wonderful to be able to have that choice in this RI town.
Charlestown RI homes sold for the month of March are down 27% over the prior month and this is due to lack of inventory and winter here.
No $1 million and over Charlestown homes sold this month. The average per square foot cost of all sold Charlestown homes in 2016 is $278 per square foot. As they say, oceanfront and waterfront are always in high demand. 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 together by the coast.
Home buyers are actively seeking good property values and lower priced affordable homes with the town’s 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. 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 March 2016 home sales update for the month, as follows:
- Properties active and on the market: 93 ( 18% more homes than prior month)
- Single-family properties closed: 11 ( 35% less than prior month)
- Average sales price: $437,000
- Median sales price: $326,000
- Sales price to list price ratio: 93% (97% last month)
- Average days on the market: 88 (191 days on market last month)
- Sales currently pending: 11 ( 35% less than prior month)
- Highest priced home sold this month was $975,000.
So the number of Charlestown home sales are 9% higher in 2016 year to date compared to the same period in 2015. Charlestown home sold prices are down by 2% over the same time period in 2015.
The average Charlestown home sold price is $370,000 on 24 sales in 2016. The stunning Charlestown coastal luxury homes are a continual draw for home buyers. Whether it is condo living or single family home you desire choices are here.
Charlestown’s home absorption rate is a buyers real estate market at present.
- 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 market.
- Breakdown of the 8 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 3 homes sold over $400,000 but less than a million dollars and 0 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 beachfront homes for sale.
Here are the most current and up to date Charlestown homes for sale under $500,000 :
Whether you are buying or selling in the RI coastal real estate market, I would love the opportunity to earn your trust and business. As a trusted RI real estate profession I have sold homes for many years in the Charlestown community which I know and love well.
As always, call me, Ginny Lacey Gorman, at (401) 529-7849 or email me at ginny@RiHouseHunt.com so we may discuss your RI real estate options in selling or buying here.
March 2016 Charlestown RI Home Sales Market