Jamestown RI Real Estate Market Update February 2015

Jamestown RI Real Estate Market Update February 2015

This Jamestown RI real estate report update as of February 2015 is now out for the month in the new year.     The real estate market through February 2015 is showing a 67% decrease in Jamestown home sales over year to date February 2014.  Well this is a first in a long time for Jamestown real estate…only 1 home sold!  Let’s hope this cycle breaks with the spring weather.  The luxury Jamestown housing market had no homes this month that sold for over $1 million in waterfront RI real estate.

Jamestown RI Real Estate Market Update February 2015

 

Knowing the waterfront and Jamestown RI coastal real estate area is part of the RI home discovery process.  If you are buying or selling a home in coastal Jamestown RI real estate, you want to understand this local home market.   It is important to know that although real estate taxes are low here, the average price of a home is significantly higher than surrounding Washington and Newport county properties.

Here is the current Jamestown RI real estate market report provided by Ginny Lacey Gorman of RI waterfront real estate for February 2015:

Properties active and on the market this month: 72( 4% more homes than the prior month)                         

  • Single-family properties sold: 1 
  • Sales price: $ 295,000 
  • Sales price to list price ratio: 96% (prior month was 101%)
  • Days on the market: 222
  • Sold per sq.foot cost $277
  • Sales currently pending: 4

Knowing the Jamestown RI real estate market is essential if you are considering listing your home for sale or in the market to buy.  Especially if your home is in the luxury Jamestown real estate range.

Jamestown’s home absorption rate is still attempting to get out of a buyers’ real estate market with excessive home inventory.  In addition, the luxury $1 million plus Jamestown home sale market commands a large part of the homes for sale here.  

  • Jamestown’s home inventory increased by 3 homes over the prior month, days on market increased by 2 weeks and list price to sold price decreased to 96%.
  • 1 Jamestown RI homes sold this month is as follows:   1 home sold under $300,000

Jamestown RI Real Estate Market Update February 2015

Jamestown RI Real Estate Market Update February 2015

Jamestown is a waterfront Newport County Rhode Island community that enjoys private real estate on a hideaway island that is unique to this ocean state.

Comparing January-February 2014 to January-February 2015 showed a 67% drop in Jamestown home sales.  This market went from 12 homes sold during this period in 2014 to 4 homes sold in 2015.

 

The town itself is known for its stunning coast line,  its true island feel, one of a kind Beavertail State Park and coastal luxury living by the locals.  It is a higher end community of island homes due to its geography between the towns of  Newport and North Kingstown.  The island itself is called Conanicut Island and has working farms on it, stunning landscapes of the ocean and coastlines to admire yet a small town appeal.

Are you considering buying or selling a Jamestown luxury coastal home?   Discussing your home needs is essential in this market and what I can do for Jamestown clients successfully.  Please reach out to me, Ginny Lacey Gorman, RI coastal and luxury real estate agent, at 401.529.7849 or email me at Ginny@RiHouseHunt.com for a home evaluation analysis and to discuss how we can work together.  I would love the opportunity to help you in your RI home search or sale.

Jamestown RI Real Estate Market Update February 2015

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