Narragansett RI Real Estate Market Update April 2014
The Narragansett RI real estate market update for April 2014 is feeling a steady ocean current in home sales.
Narragansett Home Sale Market
As this is one of the RI real estate best coastal beach towns to reside in, Narragansett homes for sale offer a variety property choices from home sellers. Let us take a look at what the market is doing this April in home sales…
The Narragansett home sale market April 2014 update is as follows:
- Properties active and on the market: 134
- Single-family properties sold in the month: 15 (down by 1 from the prior month)
- Average sales price: $ 570,000
- Median sales price: $ 435,000
- Sales price to list price ratio: 94%
- Average days on the market: 129
- Sales currently pending: 22 (equal to the prior month)
Narragansett homes sale absorption rate increased to 8.9 months worth of home inventory. It is a buyers real estate market here as more homes need to sell here.
- Breakdown of the 16 Narragansett home sales in April is as follows: 3 homes sold under $300,000, 4 homes sold between $300,000-$400,000, 6 homes sold over $400,000 and 2 homes sold over $1 million. In April, the homes in the under $400,000 price range generated the most buyers interest as reflected in their home purchases.
- The luxury oceanfront Narragansett home market felt the surf up with 2 $1 million and over home sales. The choices are many in the oceanfront homes and this market has been quiet since last year so it is encouraging to see the home buyers moving on their home purchases.
Staying informed on Narragansett Home Sales in April 2014 is key to every homeowner who is thinking of selling their home soon. Know thy market, work with a RI real estate agent who really knows this market and plan accordingly.
Consider an agent that uses state of the art aerial videos to showcase, market and sell your home.
Current home sales are down by 6% over the prior month, home inventory growth increased by 11% and pending homes in contract to close remained the same as the prior month. So the interest in Narragansett homes is still there with buyers. In comparison to last year, Narragansett real estate sales are up by 11% through April 2014 this year over January -April 2013.
The Narragansett home sales market continues to increase significantly since 2011 which bodes well for 2014.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you through the southern RI real estate maze of homes. My knowledge of Narragansett neighborhoods ( Great Island, Calef Avenue, Harbour Island, etc.) and southern RI condo complexes is an asset to you as a seller. I lived in Narragansett for many years, know it so well and enjoy the life style here. This community really imparts a flare of beach, oceanfront and seaside living…if that is what you are looking for, you have found the right community!
You have found the RI waterfront real estate agent that not only knows her Narragansett homes for sale but markets her clients properties with extreme exposure on line. I would love the opportunity to help you.
If you are considering buying a coastal Narragansett RI home or interested in selling your home, contact Ginny Lacey Gorman, waterfront RI real estate agent, today at 401.529.7849 or email me at Ginny@RiHouseHunt.com. Let’s discuss your home needs now. Let my on line real estate marketing program work for you!