Jamestown RI Real Estate Market Update May 2015

Jamestown RI Real Estate Market Update May 2015

This Jamestown RI real estate report update as of May 2015 is indicating a market that is slowing down going into summer season.   Overall, the home sales were down by 17% over the prior month with pending home sales increasing by 33%.  The real estate market year to date through May 2015 is showing a 17% decrease in Jamestown in home sales over year to date January-May 2014.    The luxury Jamestown housing market had 1 sold home this month for over $1 million in waterfront RI real estate.

Jamestown RI Real Estate Market Update May 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 May 2015:

Properties active and on the market this month: 81 ( 1% more homes than the prior month)                         

  • Single-family properties sold: 5 (6 homes sold last month)
  • Average Sales price sold: $ 831,000 
  • Median Sales price sold: $395,000
  • Sales price to list price ratio: 95% (last month it was 94%)
  • Days on the market: 187
  • Sales currently pending: 12 

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 1 home over the prior month, days on market increased to 6 months and list price to sold price increased to 95%.
  • 5 Jamestown RI homes sold this month is as follows:   0 home sold under $400,000, 3 homes sold between $300,000-$400,00, 1 home greater than $400,000 but less than $1 million and 1 home sold for over $1 million.

Jamestown RI Real Estate Market Update May 2015

Jamestown RI Real Estate Market Update May 2015 Beavertail State Park

 

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

Comparing January-May 2015 to January-May 2014 showed a 17% drop in Jamestown home sales year over year.  This market went from 22 homes sold during this period in 2014 to 20 homes sold so far in 2015.  Home sold values decreased by 6%.

 

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.

 

Here are the latest Jamestown homes for sale under $600,000:

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.

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Ginny Lacey Gorman is your go to Jamestown Rhode Island waterfront and luxury real estate agent for southern RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information. Email her at Ginny@RiHouseHunt.com to make an appointment to discuss your real estate needs.
 
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 real estate professional and specialist 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 today.

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