Narragansett RI Real Estate Market Update October 2014

Narragansett RI Real Estate Market Update October 2014

The Narragansett RI real estate market update for October 2014 is continuing the home sale swell from the prior month.

In fact, this Narragansett real estate market is up by 15% in home sales this month over prior month.  Overall the Narragansett home sale market is up 8% this year through October as compared to same time period in 2013.  Home equity values increased slightly, by .4%, over this same time period.  This market has been an attractive home market for RI buyers for vacation and year round homes.

 

Narragansett RI Real Estate Market Update October 2014

As this is one of the RI coastal real estate waterfront beach towns to reside in, Narragansett offers a variety of property choices.  The choice of beaches is numerous here and you may buy one of your own if you have the deep pockets for this purchase.

Claim your cottage or have plenty of cash for your Ocean Road, Great Island, Anawan Cliffs or oceanfront Narragansett home, its desirability never seems to lessen with home buyers.   Let us take a look at what the market is doing this month in home sales…

The Narragansett home sale market October 2014 update is as follows:

  • Properties active and on the market: 146 (-11% less than the prior month)
  • Single-family properties sold in the month: 31 (up by 15% from the prior month)
  • Average sales price: $ 497,000 (up by 10% over the prior month)
  • Median sales  price: $ 389,000 (up by 2% over prior month)
  • Sales price to list price ratio: 97% 
  • Average days on the market: 90 
  • Sales currently pending: 13 (-41% decrease over the prior month) 

Narragansett homes sale absorption rate decreased to 5 months worth of home inventory.  It is still a balanced real estate market here. One of the neighborhoods in demand is Narragansett Pier which has few homes on the market, homes here go into contract quickly and the price point will likely put you up over $550,000 for a move in ready home here.  Remember that the RI real estate here, we are talking land, is expensive so small lots are the norm especially in the beach neighborhood.

So the Narragansett real estate market from January 2014 through October 2014 shows home sales up by 8% over the same time period in 2013 which is continued good news for sellers.  And the Narragansett home prices have increased by .4 % over the same time period 2014 over 2013.

Narragansett RI Real Estate Market Update October 2014

  • Breakdown of the 31 Narragansett home sales in October is as follows: 6 homes sold under $300,000, 12 homes sold between $300,000-$400,000, 11 homes sold over $400,000 and 2 waterfront homes sold for over $1 million.  In October, the homes in the over $300,000  price range generated the most buyers interest as reflected in their home purchases.  

Staying informed on Narragansett Home Sales in October 2014 and its trending is key to every homeowner who is thinking of selling their home.  Know thy market, work with a real estate agent who really knows online marketing and plan pricing your home listing well.

Consider an agent that uses state of the art aerial videos to showcase, market and sell your Narragansett home the right way.  Online marketing is a key tool in marketing your home.

 

The Narragansett home sales market continues to increase well since 2011.

The Narragansett homes sale market remains steady, is hot with buyers and is continuing now into the fall.  This RI waterfront community in Washington county is known for its beaches, oceanfront Narragansett Pier,  fabulous seafood restaurants and great RI public schools.

Narragansett RI Real Estate Market Update October 2014

Other past Narragansett Home Sale Reports:

Narragansett RI Real Estate Market Update September 2014

Narragansett RI Real Estate Market Update August 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 the neighborhoods 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 coastal RI community!  Whether it is for vacation or year round living, it is a sweet community to live in.

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!
Narragansett RI Real Estate Market Update October 2014
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Ginny Lacey Gorman is your go to Narragansett Rhode Island waterfront real estate agent for Narragansett 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 at 401.529.7849 today.

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