East Greenwich RI Real Estate Market May 2014

East Greenwich RI Real Estate Market May 2014

The East Greenwich RI real estate market in May 2014 is showing a less vibrant home sale market so far this year.  In fact, sales are down year to date 72% from last year.

 What will 2014 bring in the housing market for the remaining months? The year-to-East Greenwich RI Real Estate Market May 2014date 2014 real estate sales numbers through May shows a 72% drop over the same period in 2013.  Inventory is up but the lack of ‘show ready’ homes that buyers want is an issue. 

 

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.  Home sales this month have increased by 150% over the prior month but April was such a poor sales month to compare to.  Yet this uptick is welcomed here.

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

Active homes on the market: 130 (+15% over prior month)

Average list to sales price: 95%

Average home sale price: $473,000 (+7% over prior month)

Median home sale price:  $440,000(+3% over prior month)

Pending Homes:  25 (+25% over prior month)

Single family Sold Homes: 15 (150% increase in home closings over prior month)

In May, 15 single family homes sold as follows:  4 homes sold for less than $300,000, 3 homes sold between $300,000-$400,000, 7  homes sold for greater than $400,000 and 1 home sold for over $1 million.  It is back to a buyers market right now in this community as home inventory is at 8.6 months.

 

East Greenwich RI Real Estate Market May 2014

More detailed East Greenwich May home sales information to follow:

 

            Average home sold for $473,000 at 95% of list price and days on market was 135 (a huge increase). 

               Median home sold for $440,000 at 96% of list price and was on the market for 131 days prior to a sales  agreement.  

Comparing East Greenwich RI real estate sales year to date 2014 over year to date 2013 through May, a 72% decrease in home sales  resulted.  This is due to lack of inventory that is well priced.  Home prices are up by 1% over the same time period in 2014 over 2013 and holding steady.

Even with these lower sales figures this year, East Greenwich has remained one of the stronger RI home markets.

 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.  To find the right area for you, please reach out to me at 401.529.7849 or email me, Ginny Lacey Gorman, at ginny@RiHouseHunt.com.

 

Additional market reports for 2014 to read:

East Greenwich RI Real Estate Market May 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 Rhode Island waterfront real estate 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 at 401.529.7849.

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