Narragansett RI Real Estate Year End Market Report December 2013

Narragansett RI Real Estate Year End Market Report December 2013 Year

 

The Narragansett home sales update for December 2013 continues its real estate run into winter with a pull back in home sales.  Not surprising for this time of year.

 

Narragansett RI Real Estate Year End Market Report December 2013

As this is one of the RI real estate best coastal beach towns to reside in, Narragansett homes for sale offer great and varied property choices.   Let us take a look at what the market is doing this month and recap 2013 in home sales…

The Narragansett RI real estate report December 2013 update  is as follows:

  • Properties active and on the market: 112
  • Single-family properties sold in the month: 10 
  • Average sales price: $ 801,000
  • Median sales  price: $ 455,000
  • Sales price to list price ratio: 91% 
  • Average days on the market: 92 
  • Sales currently pending: 15 

Narragansett homes sale absorption rate remains at just over 10 months worth of home inventory.  It is a buyers real estate market here.

  • Breakdown of the 10 Narragansett home sales in December is as follows: 2 homes sold under $300,000, 3 homes sold between $300,000-$400,000, 3 homes sold over $400,000 and 2 homes over $1 million.  In December, the   homes were in every price range that generated the buyers interest.  
  • The luxury oceanfront Narragansett home market continues to be of buying interest with 2 homes over $1 million selling this month.  Interesting to see that 20 homes a million dollars and over sold here in 2012 and 2013.

Staying informed on Narragansett Home Sales in December 2013 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.

Current home sales are down by 60% over the prior month, home inventory growth decreased by 21% and pending homes in contract were up by 15% over the prior month.  So the interest in Narragansett homes has slowed.

Home prices for the year to date period through December 2013 compared to December 2012 are down by 3% as 2012 was a better year in the real estate sales prices.  Home sales numbers were up 2% over the same time period.   Yet, the home market remains stable.

Year Homes Sold Average Sales Price List Price/Sale Price Days on Market
2011 144 $477,000 92% 139
2012 213 $530,000 92% 140
2013 218 $512,000 93% 120

The Narragansett home sales market has seen a 51% increase in homes sales since 2011!

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 neighborhoods and condo complexes is an asset to your as a seller or a buyer in this and surrounding locales.

Narragansett RI Real Estate Year End Market Report December 2013
                                                                                                     Narragansett Beach in summer

The Narragansett homes’ sales market remains steady.  This RI waterfront community in Washington county is known for its beaches, oceanfront Narragansett Pier,  fabulous seafood restaurants and top RI public schools.  This is all a great draw when put together for any Narragansett home buyer.  Having lived in Narragansett for many years, I know the area well.

Looking for a RI waterfront Real Estate Agent that not only knows her Narragansett homes for sale but markets her clients properties with extreme exposure on line?  It sells homes.   I would love the opportunity to help you.  Call me today.

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 Home Sales for 2013.

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 Ginny Lacey Gorman is your go to 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 me at ginny@RiHouseHunt.com to make an appointment to discuss your home sale 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.

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