Narragansett RI Real Estate Market Update September 2014
The Narragansett RI real estate market update for September 2014 is continuing the home sale swell from the prior month.
In fact, this Narragansett real estate market is up by 13% in home sales this month over August. Overall the Narragansett home sale market is up 4% this year through September as compared to same time period in 2013. Home equity values decreased slightly, by 1%, over this same time period.
As this is one of the RI coastal real estate waterfront beach towns to reside in, Narragansett offers a variety property choices. The choice of beaches is numerous here and you may garner one of your own if you have the deep pockets for it.
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 September 2014 update is as follows:
- Properties active and on the market: 164 (-16% less than the prior month)
- Single-family properties sold in the month: 27 (up by 13% from the prior month)
- Average sales price: $ 453,000 (down by 11% over the prior month)
- Median sales price: $ 382,000
- Sales price to list price ratio: 93% (same as last month)
- Average days on the market: 104 (12% decrease in days on market)
- Sales currently pending: 22 (-5% decrease over the prior month)
Narragansett homes sale absorption rate decreased to 6 months worth of home inventory. It is 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 $600,000 for a move in ready home here. Remember that 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 September 2014 shows home sales up by 4% over the same time period in 2013 which is continued good news for sellers. And the Narragansett home prices have decreased by 1 % over the same time period 2014 over 2013.
Narragansett RI Real Estate Market Update September 2014
- Breakdown of the 27 Narragansett home sales in September is as follows: 4 homes sold under $300,000, 12 homes sold between $300,000-$400,000, 10 homes sold over $400,000 and 1 waterfront home sold for over $1 million. In September, the homes in the over $300,000 price range generated the most buyers interest as reflected in their home purchases.
- The luxury oceanfront Narragansett home market felt the calming surf as one home on the water over $1 million sold.
Staying informed on Narragansett Home Sales in September 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 moderately since 2011.
The Narragansett homes sale market remains steady, is hot with buyers and is moderating now for 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.
Other past Narragansett Home Sale Reports:
Narragansett RI Real Estate Market Update August 2014
Narragansett RI Real Estate Market Update July 2014
Narragansett RI Real Estate Market Update June 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.
