East Greenwich RI Real Estate Market March 2014
The East Greenwich RI real estate market in March is showing a spring burst in this housing market.
What will 2014 bring in the housing market here? The first quarter of 2014 real estate sales show a 44% drop over the same quarter in 2013. Much of this lag in home sales is due to the wintry winter weather that was felt here. March has shown the bloom in home sales sellers were waiting for.
A stunning suburb of the city of Providence, commuting distance to the big city and top rated schools draws the home buyers here. This RI real estate market’s strong yearly trend in single family home sales was demonstrated in 2013 and home sales this month have increased by 133% from the prior month!
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Let us look at how this market is doing this month:
Active homes on the market: 90 (+6% over prior month)
Average list to sales price: 95%
Average home sale price: $471,000 (+14% over prior month)
Median home sale price: $406,000
Pending Homes: 16 (+14% over prior month)
Single family Sold Homes: 14 (133% increase in home closings over prior month)
In March, 14 single family homes sold, as follows: 3 homes sold for less than $300,000, 4 homes sold between $300,000-$400,000, 6 homes sold for greater than $400,000 and 1 home sold over $1 million. It is nearing a balanced market right now in this community due to a reduced home inventory.
East Greenwich RI Real Estate Market March 2014
More detailed East Greenwich March home sales information to follow:
Average home sold for $471,000 at 95% of list price and days on market was 123. The average home sale price has increased here by 14% over the prior month. Home inventory rose by a modest 6%.
Median home sold for $406,000 at 95% of list price and was on the market for 124 days prior to a sales agreement.
Comparing East Greenwich RI real estate sales year over year March 2014 over 2013, showed a decrease in home sales by 44%. This is due to lack of inventory that is well priced as well as the weather. Home prices are down by 3% over the same time period.
Rhode Island real estate projections are anticipated to be slowing for 2014. However, East Greenwich has remained one of the stronger RI home markets.
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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.
East Greenwich RI Real Estate Market March 2014 shares current home sale market information for homeowners and buyers. Stop by every month for the newest in East Greenwich real estate information.
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Really is a great location.