East Greenwich RI Real Estate Market Report – August 2011

 

11 East Greenwich RI homes have been sold in August:

8 homes sold over $400,000

1 home sold for between $300,000-$400,000

        2 homes sold for under $300,000

 

There were 139 East Greenwich RI homes for sale  in August 2011 which was a 3 % decrease over the prior month (4 less homes for sale).  Of the East Greenwich RI real estate homes on the market 6 of them are over $1 million in listing price.

 

The numbers of East Greenwich RI homes for sale, price range of homes sold and real estate market trends month to month for East Greenwich neighborhoods that may be on your radar are shared here.  The number of East Greenwich RI homes sold stayed the same in August as the prior month.  Interesting enough the top sellers are the homes over $400,000 – if location, condition and price for a home is right the property will be a seller here in this real estate market!

 

East Greenwich RI continues to have a good supply of homes for sale but there are no waterfront East Greenwich homes to find right now.

 

Be aware that the absorption rate for homes on the market is about 12 months which is still very much a buyers market.  However, East Greenwich has consistently been the top or in the top two school systems academically in the Rhode Island market.   When homeowners are looking for top rated schools, there is no doubt that they consider East Greenwich RI.

 

Pending home sales have decreased by 1 home over July 2011 and there are 11 homes in pending in East Greenwich RI.  To be in ‘pending’ status is to be awaiting on the closing of the home, i.e. there is a signed purchase and sales agreement on the home. This waiting time is usually due to the lender going through their punch list of items needed from the buyers and/or finishing up agreed upon repair items from the home inspection.

 

I do expect real estate to remain constant this fall especially in the lower price ranges.  If you are looking for particular neighborhoods in East Greenwich such as Pine Glen or Frybrook please give me a call at 401.529.7849 and let my East Greenwich real estate expertise work for you.

 

  East Greenwich RI Real Estate Market Report- August 2011.

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Ginny Lacey Gorman is your go to North Kingstown Real Estate agent for homes in East Greenwich RI and beyond…knowing the geographic area, schools, happenings,important tidbits of information and businesses well.

 

As North Kingstown short sale agents, if you are having trouble paying your mortgage contact Ginny to help you through the short sale process successfully.

 

   Waterfront, oceanfront, luxury and coastal RI real estate are her specialty but all of RI is her backyard.   When you are in need of a good professional for your buying and selling needs and an internet savvy marketer who sells RI houses in this real estate market – call Ginny at 401.529.7849.