Charlestown RI Real Estate Market Report October 2014
Charlestown RI has been a vibrant real estate market this year. Comparing the year to date October 2013 sales to year to date October 2014 home sales, this home sales market showed an upwards trend of 13% and home sale prices in Charlestown are up by 14%. All important news for Charlestown home sellers. And home buyers here need to be ready, willing and able to buy on homes here especially in the under $400,000 range. This Charlestown RI real estate market update is provided by Ginny Lacey Gorman of RI coastal real estate.
Home inventory under $300,000 in Charlestown is lacking for home buyers and sells quickly when it comes on the market if show ready. Furthermore, home buyers have indicated they want well priced homes that need little updating. There are five factors that will sell your home so understand what they are if you are a home seller.
Realizing this is more of a higher priced real estate market which may skew sales prices upwards but when you have the Atlantic Ocean at your doorstep, home prices can be in the higher range. This month saw 1 home on the ocean close for over $1 million.
This is a true waterfront and rural community depending upon your location desire for a Charlestown home. Home sales here for the month of October are down by 7% over the prior month and pending home sales are down by 17%.
Home buyers are actively seeking good property values and lower priced affordable homes under $300,000 with lower real estate taxes. Makes Charlestown a highly desirable community to buy into.
What does this town offer home buyers? It is closer to Connecticut, to a wonderful ocean area retreat and offers oceanfront residences as well as country homes for the home buyer. It is the stunning coastline, quiet neighborhoods, beach side homes and serene landscapes that draw home buyers to this Charlestown location. Here is the Charlestown October 2014 home sales update for the month, as follows:
- Properties active and on the market: 98 ( 8% less homes than prior month)
- Single-family properties closed: 14 ( 7% decrease over prior month)
- Average sales price: $398,000
- Median sales price: $336,000
- Sales price to list price ratio: 93% (95% last month)
- Average days on the market: 176 (DOM nearly doubled over prior month)
- Sales currently pending: 15 (17% decrease over prior month)
Charlestown RI Real Estate Market Report October 2014
Charlestown’s home absorption rate is moving towards a balanced real estate market but still a buyers market.
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Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the current real estate market. Prior months had this home sale market as a buyers market but as of this month the market has changed.
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Home inventory decreased in October again, pending sales decreased by 3 homes and Charlestown RI home closings decreased by 1 home.
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Breakdown of the 14 Charlestown RI home sales is as follows for the month: 3 homes sold under $300,000, 7 homes sold between $300,000-$400,000, 3 homes sold over $400,000 but less than a million dollars and 1 home sold for over $1 million.
From coastal Charlestown homes to the rural country homes. You are never far from the ocean and the Rhode Island beaches here. It is a great time to buy in the Quonnie neighborhood too if you are looking at true oceanfront, walk to water or an oceanfront Charlestown homes for sale find.
Past Charlestown RI Market Reports you may be interested in:
September 2014 Charlestown RI Real Estate Market Report
August 2014 Charlestown RI Real Estate Market Report
July 2014 Charlestown RI Real Estate Market Report
Looking for a Charlestown RI real estate agent ? Ginny Lacey Gorman knows her local RI coastal real estate market. Knowing current FEMA flood map changes, building construction needs in coastal areas and staying abreast of RI septic changes is a part of my real estate skills set. Whether you are interested in Charlestown coastal property or country living, Ginny will guide you well in selling or buying a home.
May this Charlestown RI home sales report update for October 2014 guide you in making better real estate decisions.
Charlestown RI Real Estate Market Report October 2014.
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