East Greenwich RI Real Estate Market Update June 2014

East Greenwich RI Real Estate Market Update June 2014

The East Greenwich RI real estate market update for June 2014 is showing a more vibrant summer home sale market.  In fact, sales are up from last month by 33% and home inventory is up by 13%.

East Greenwich RI Real Estate Market Update June 2014

 

What will 2014 bring in the East Greenwich housing market for the remaining months?  It seems to be and up and down year but way behind 2013.  The year-to-date 2014 East Greenwich real estate sales numbers through June shows a 39% drop over the same period in 2013.  

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.  Pricing aggressively is the order of the day for home sellers now.

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

Active homes on the market: 147 (+13% over prior month)

Average list to sales price: 96%

Average home sale price: $495,000 (+5% over prior month)

Median home sale price:  $449,000(+2% over prior month)

Pending Homes:  20 (-20% over prior month)

Single family Sold Homes: 20 (33% increase in home closings over prior month)

In June, 20 single family homes sold as follows:  1 home sold for less than $300,000, 5 homes sold between $300,000-$400,000 and 14  homes sold for greater than $400,000.  A better rebound in the over $400,000 home market is evident.

 

 It is moving towards a balanced market now in this community as home inventory is at 7.4 months.  Yet it is not there yet.

East Greenwich RI Real Estate Market Update June 2014

More detailed East Greenwich June home sales information to follow:

            Average home sold for $495,000 at 96% of list price and days on market was 88. 

            Median home sold for $449,000 at 97% of list price and was on the market for 54 days prior to a sales  agreement.  

Comparing East Greenwich RI real estate sales year to date 2014 over year to date 2013 through June, a 39% decrease in home sales  resulted.  This is due to lack of inventory that is well priced and show ready.  Yet, home prices are up by 2% over the same time period in 2014 over 2013.

 

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.

Past East Greenwich market report for 2014 to read:

 

 East Greenwich RI Real Estate Market June 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 agent for 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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