Jamestown RI Real Estate Market Update October 2015
This Jamestown RI real estate report update as of October 2015 is indicating a home sale market that is more robust than 2014. Overall, the home sales were up by 22% over the prior month with pending home sales increasing by 13%. This real estate market, year to date, through October 2015 is showing a 13% increase in Jamestown in home sales over year to date January-October 2014 and a 17% increase in homes sold values in the same period. The luxury Jamestown housing market had 1 sold home this month for over $1 million in waterfront RI real estate.
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 October 2015:
Properties active and on the market this month: 93
- Single-family properties sold: 11 (2 homes more than prior month)
- Average Sales price sold: $ 582,000 (last month it was $798,000)
- Median Sales price sold: $395,000
- Sales price to list price ratio: 94% (last month it was 93%)
- Days on the market: 110 (175 days last month)
- Sales currently pending: 9 (8 homes pending last month)
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 decreased by 1% over the prior month in October, days on market decreased to nearly 4 months and list price to sold price increased to 94%.
- Jamestown waterfront homes had 1 luxury home sold.
- 11 Jamestown RI homes sold this month is as follows: 2 home sold under $300,000, 8 homes sold between $300,000-$400,00, 0 homes greater than $400,000 but less than $1 million and 1 home sold for over $1 million.
Jamestown RI Real Estate Market Update October 2015
Comparing January-October 2015 to January-October 2014 showed a 13% increase in Jamestown home sales year over year. This market went from 53 homes sold during this period in 2014 to 66 homes sold so far in 2015. Home sold values increased by 17% over the same time period to $808,000 on average. The highest price home so far this year here is $ 6.2 million. The average square foot cost of a Jamestown sold house so far in 2015 is $ 344.
This is the real estate news for home sellers they want to hear and buyers will need to pay more for homes in Jamestown now. But it is a long term investment for any home buyer.
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 some of the most current and up to date 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, Jamestown 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 October 2015
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