Jamestown RI Home Market Report October 2014
This Jamestown RI real estate report update as of October 2014 is now out! The real estate market for January – October 2014 is showing a 21% decrease in Jamestown home sales and a 6% decrease in home sale prices as compared to the same time period in 2013. Overall, the luxury Jamestown housing market had 2 homes this month that sold for over $1 million in waterfront RI real estate which is a nice uptick here.
Knowing the waterfront and Jamestown RI coastal real estate area is part of the RI home discovery process. If you are buying or selling a home in coastal Jamestown RI real estate, you want to understand the local housing market.
Why? Because knowing how real estate sales are doing gives you knowledge for any home decision you may make.
Here is the current real estate market data for Jamestown, RI provided by Ginny Lacey Gorman of RI waterfront real estate for October 2014:
Properties active and on the market: 90 (-4% less homes than the prior month)
- Single-family properties sold: 7 (+33% higher than prior month)
- Average sales price: $ 655,000
- Median sales price: $ 625,000
- Sales price to list price ratio: 95%
- Average days on the market: 185 (13% increase)
- Sales currently pending: 3 ( same as last month)
Knowing the Jamestown RI real estate market is essential if you are considering listing your home for sale or in the market to buy. Especially if your home is in the luxury Jamestown real estate range. Overall the $1 million price range of homes sold is down 10% in 2014 so far this year as compared to 2013.
Jamestown’s home absorption rate is still attempting to get out of a Buyer’s real estate market with many months of home inventory. In addition, the luxury $1 million+ home sale market commands 37% of the current Jamestown homes for sale.
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Year to date there were 53 homes sold as of October 2014 as compared to same time period in 2013, a 21% decrease in homes sold. Jamestown home sale values decreased by 6% over the same period. 2014 has not been a strong home sales year for real estate here.
- Jamestown’s home inventory decreased by 4 homes over the prior month, days on market increased by a couple of weeks and list price to sold price increased to 95%.
- Jamestown waterfront homes had 2 luxury homes sold in October.
- Breakdown of the 7 Jamestown RI homes sold this month is as follows: 0 homes sold under $300,000, 2 homes sold between $300,000-$400,000, 3 homes sold for over $400,000 but less than a million and 2 homes sold for over 1 million dollars.
Jamestown is a waterfront Newport County Rhode Island community that enjoys private real estate on a hideaway island that is unique to this ocean state.
The town itself is known for its stunning coast line, its true island feel, one of a kind Beavertail State Park and coastal luxury living by the locals. It is a higher end community of island homes due to its geography between the towns of Newport and North Kingstown. The island itself is called Conanicut Island and has working farms on it, stunning landscapes of the ocean and coastlines to admire yet a small town appeal. It is the easy connection between the towns of North Kingstown and Newport.
Are you considering buying or selling a Jamestown coastal home? Discussing your home needs is essential in this market and what I can do for Jamestown clients. Please reach out to me, Ginny Lacey Gorman, RI coastal real estate agent, at 401.529.7849 or email me at Ginny@RiHouseHunt.com for a home evaluation analysis. I would love the opportunity to help you in your RI home search or home sale.
The Jamestown home market offers great waterfront, water view and walk to water real estate for all in this island community.
Jamestown RI Home Market Report October 2014
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