Charlestown RI Home Sales Market August 2013
Charlestown RI home sales market for August 2013 is provided by Ginny Lacey Gorman of RI coastal real estate.
The Charlestown RI home sales market August 2013 has been a slower moving market this August in this RI oceanfront community. Nestled in the southern part of Rhode Island between Westerly and South Kingstown RI, this town offers beachfront and rural homes for the discriminating buyer. Here is the August 2013 home sales update, as follows:
- Properties active and on the market: 134 (same as prior month)
- Single-family properties closed in August: 8 ( down by 9 since last month)
- Average sales price: $ 697,031 (more than doubled over prior month)
- Median sales price: $ 289,000 (12% increase over prior month)
- Sales price to list price ratio: 91% (3% decrease over prior month)
- Average days on the market: 70 (64% drop over last month)
- Sales currently pending: 17 (down by 2 sales over last month)
Charlestown RI Home Sales August 2013 Update is showing a slowdown in lower priced home sales. Two luxury waterfront homes sold this month over $1 million.
Charlestown’s home absorption rate has increased and is still a buyers market. No increase in home inventory occurred in August. Charlestown homes $1 million and over account for 13% of the homes for sale now.
Home inventory remained constant in August, pending sales decreased by 2 homes and Charlestown RI home closings decreased dramatically by 9 homes over the prior month. End of summer found buyers slowing their home buying here.
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. Charlestown has 13% of homes for sale a million dollars or more.
Breakdown of the 8 Charlestown RI home sales is as follows for the month of August: 3 homes sold under $300,000, 2 homes sold between $300,000-$400,000, 1 home sold over $400,000 and 2 homes sold over $1 million. Charlestown RI homes sales still indicate that the best value for location, taxes and coastal living is the under $300,000 home market here. However, the hefty prices paid for waterfront homes will skew the average home price upwards this month.
Charlestown RI home sales market in August 2013 are down by 47% over August 2012.
Actually 2013 home sales through August 2013 stand at 66 home sales compared to 98 sold through August 2012. This is a 33% decrease in Charlestown home sales in 2013 over last year. However, average home sale prices rose by 23%! Are there deals to be made…perhaps. Are sellers standing firmer on their home prices this year? Perhaps. There was certainly more of a home buying frenzy in 2012 than currently. You do not know until you work with a real estate agent who represents your interests in making the right price offer!
There is no doubt that homes here are desirable to buyers in all price ranges. From coastal Charlestown homes to the rural country homes. You are never far from the ocean here. It is a great time to buy in the Quonnie area too if you are looking at true waterfront and walk to water Charlestown homes for sale.
Search for Charlestown RI homes for sale here.
I would love the opportunity to help you in your search or sale. Knowing current FEMA flood map changes, building construction needs in coastal areas and staying abreast of RI septic changes is part of my skills set.
Contact Ginny Lacey Gorman today at 401.529.7849 or email me at Ginny@RiHouseHunt.com. Let’s discuss your home needs and see how I may help you reach them. Charlestown RI Home Sales in August 2013 give the buyers and sellers the necessary home information to make wise real estate decisions.
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