Charlestown RI Real Estate Market Update April 2014

Charlestown RI Real Estate Market Update April 2014

 

The Charlestown RI estate market update for April 2014 is provided by Ginny Lacey Gorman of RI coastal real estate.

Charlestown RI Real Estate Market Update April 2014

The lack of home inventory under $400,000 in Charlestown is moving home buyers to other southern RI communities such as Narragansett or North Kingstown.    Home buyers have indicated they want well priced homes that need minimal updating.  This is a high end home market which skews sales prices upwards but when you have the Atlantic Ocean at your doorstep, home prices can be in the high range.  This month saw no homes on the ocean close for over $1 million.

This is a waterfront and/or rural community here depending upon your desire for your Charlestown home location.  Home sales here for the month of April are up 11% over the prior month.  This community is finishing the spring market well in home sales.

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

Nestled in the southern part of Rhode Island, between the towns of Westerly and South Kingstown RI, this town 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 April 2014 home sales update for the month, as follows:

  • Properties active and on the market: 94( 4 homes more than prior month)
  • Single-family properties closed: 10 ( up by 11% over prior  month)
  • Average sales price: $409,000 
  • Median sales  price: $369,000 
  • Sales price to list price ratio: 95% (up from 92% the prior month)
  • Average days on the market: 134 
  • Sales currently pending: 12 (71% increase over prior month)
oceanfront beach in Charlestown RI real estate February

 

Charlestown RI real estate sales bloomed in April which was long overdue.

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 but is moving to 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.

      • Home inventory increased in April, pending sales increased by 8 homes and Charlestown RI home closings increased by 1 home over the prior month.

         

      • Breakdown of the 10 Charlestown RI home sales is as follows for the month: 4 homes sold under $300,000, 2 homes sold between $300,000-$400,000, 4 homes sold over $400,000.     Charlestown RI homes sales still indicate that the best value for location, taxes and coastal living is the under $400,000 home market here where the strongest housing demand is. 

         

Charlestown RI Real Estate Market Update April 2014

Comparing the first quarter 2013 to first quarter 2014 year to date through April, home sales are up by 22% and home sale prices in Charlestown are up 2%.  All positive news for Charlestown home sellers.

 

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, walk to water or oceanfront Charlestown homes for sale.

 

Update:the increases to flood insurance premiums have NOT gone into effect as Congress revisits a better way to apportion the increases over time.  More to come on flood zones as FEMA evaluates increases in flood premiums.  Your best advice will come from a knowledgeable insurance agent.

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.

Past Charlestown RI Market Reports:

March 2014 Charlestown RI Real Estate Market Report

February 2014 Charlestown RI Real Estate Market Report

January 2014 Charlestown RI Real Estate Market Report

 May this Charlestown RI real estate report update April 2014 guide you in your RI real estate endeavors.

  ~~~~~~~~~~~~~~~~~~~~~~~~~~

 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 discuss your home sale or home buy real estate options.
 
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.

Leave a Reply

Your email address will not be published. Required fields are marked *