East Greenwich RI Real Estate Market August 2014

East Greenwich RI Real Estate Market August 2014

The East Greenwich RI real estate market for August 2014 is showing a decline in home sales with sales down 25% over the prior month.

 The 2014 East Greenwich real estate market, as we enter the fall months, is showing a 29% East Greenwich RI Real Estate Market August 2014decrease in home sales so far this year and way behind 2013.  The year-to-date 2014 East Greenwich real estate sales numbers through August shows this 29% drop over the same period in 2013.  Yet home sale prices here have increased by 4% over the same time period which is important to home sellers and homeowners.

 

A suburb of the city of Providence, commuting distance to the big city and top rated East Greenwich schools draws the home buyers here.   This RI real estate market’s strong yearly trend in single family home sales was demonstrated in 2013.   Yet the over $1 million homes continue to sell slowly in this market, yet one sold in August.  Pricing aggressively is the order of the day for home sellers now to move their home into a buyers arms.

Let us look at how this East Greenwich home sale market is doing this month of August:

Active homes on the market: 145 (-8% over prior month)

Average list to sales price: 97% (compared to 93% the prior month)

Average home sale price: $517,000 (+8% over prior month)

Median home sale price:  $498,000(+10% over prior month)

Pending Homes:  9 (-10% over prior month)

Single family Sold Homes: 21 (-25% decrease in home closings over prior month)

In August, 21 single family homes sold as follows:  4 homes sold for less than $300,000, 3 homes sold between $300,000-$400,000, 13  homes sold for greater than $400,000 and 1 luxury home sold for over $1 million.  A better rebound in the over $400,000 home market is evident in East Greenwich.

 

 It is bordering on a buyers market now in this community as home inventory is at 6.9 months.

East Greenwich RI Real Estate Market August 2014

More detailed East Greenwich August home sales information to follow:

            Average home sold for $517,000 at 97% of list price and days on market was 76. 

            Median home sold for $498,000 at 98% of list price and was on the market for 62 days prior to a sales  agreement.  

Comparing East Greenwich RI real estate sales year to date 2014 over year to date 2013 through August, a 29% decrease in home sales resulted.  This is due to a lack of inventory that is well priced to its condition and demand.  Yet, home sale prices are up by 4% over the same time period in 2014 over 2013 through August which is a continued favorable trend as the higher end homes are being sought after by buyers.

 

East Greenwich RI Real Estate Market August 2014Even with these lower sales figures this year, East Greenwich has remained one of the most desirable RI home markets due to proximity to Providence and the Airport as well as the public school system.

 Why do people move to this community of East  Greenwich RI?  Within Kent County this suburban town is noted  for fine homes, great public schools, being near shopping malls and  there is easy highway access.  Its closeness to the Providence  airport and the capitol of RI makes East Greenwich a choice town  for commuters.

Considering Relocating to East Greenwich?  Find out why so many home  buyers choose it. A variety of neighborhoods from country estates  to condos on Main Street is so appealing to East Greenwich real estate buyers.  Noted for its choice of restaurants outside of Providence as well as marinas for boating enthusiasts.

Looking for a home in East Greenwich RI?  Interested in homes for sale in East Greenwich?   As an East Greenwich RI real estate specialist, I provide you insight, neighborhood information and choices for your next move.  Let me do a more in depth analysis into what is happening in the market at your price point as well as surrounding towns.

What are the neighborhoods like in East Greenwich?  Such choices of neighborhoods to explore from the historic Hill and Harbor to the subdivisions off of Division Street.  From coastal condos to horse farm country living to neighborhoods, there are   many choice areas to explore and appreciate.
Looking to buy an East Greenwich home?   The neighborhoods of East Greenwich are unique to each other and real estate guidance is essential here.

 

Here are past East Greenwich market reports for 2014 to read:

 

East Greenwich RI Real Estate Market August 2014 shares current home sale market information for homeowners and buyers.  Stop by every month for the newest in East Greenwich RI real estate information.
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 Ginny Lacey Gorman is your go to East Greenwich Rhode Island agent for real estate in East Greenwich RI and beyond…knowing the geographic area, schools, happenings and important tidbits of local information.  
 
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 true real estate professional 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 or email her at ginny@RiHouseHunt.com.

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