Narragansett RI Real Estate Report October 2013
The Narragansett home sales update October 2013 continues its steady real estate run into fall.
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 in home sales and contracts…
The Narragansett RI real estate report October 2013 update in real estate home information is as follows:
- Properties active and on the market: 139 (-9% less than prior month)
- Single-family properties sold in October 2013: 23 (+5% over prior month)
- Average sales price: $ 452,754
- Median sales price: $ 365,000
- Sales price to list price ratio: 93% (2% less than last month)
- Average days on the market: 94 (up +42% over last month)
- Sales currently pending: 22 (-21% over last month)
Narragansett homes sale absorption rate has increased to just 6 months worth of home inventory. It is a balanced real estate market here.
- Breakdown of the 23 Narragansett home sales in October is as follows: 8 homes sold under $300,000, 7 homes sold between $300,000-$400,000, 7 homes sold over $400,000 and 1 home over $1 million. In October, the under $300,000 and over $400,000 home market were the ones that generated the most buyers interest.
- The luxury oceanfront Narragansett home market continues to be of buying interest with 1 home over $1 million sold this month.
Staying informed on Narragansett Home Sales in October 2013 is key to every homeowner who is thinking of selling their home soon. Know thy market and plan accordingly.
Current home sales are up by 5% over the prior month, home inventory growth did not happen but decreased by 9% and pending homes in contract were down by 21% over the prior month. So the interest in Narragansett homes continues as inventory drops.
Home prices for the year to date period through October 2013 compared to October 2012 are down 8% as 2012 was a better year in the real estate market here and home sales were down 1% over the same time period. Yet, the market remains fairly steady going into the last quarter of 2013.
The Narragansett home sales market has been a steady selling market through the fall.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you here. My knowledge of neighborhoods and condo complexes is an asset to your as a seller or a buyer in this and surrounding locales.
The Narragansett homes’ sales market remains vibrant. 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.
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 sales program work for you! Narragansett Home Sales continue steady into the fall months of 2013.
Narragansett RI Real Estate Report October 2013
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