Narragansett Home Sales May 2013 Update
The Narragansett home sales May 2013 home sale market has continued its strong upward real estate run as shown in this update.
As this is one of the RI real estate best beach towns to reside in, the Narragansett homes for sale offers great property choices. Let us take a look at what the market is doing this month in home sales and contracts…
The Narragansett home sales May 2013 real estate home information:
- Properties active and on the market: 170
- Single-family properties sold in May 2013: 22
- Average sales price: $ 538,609
- Median sales price: $ 298,800
- Sales price to list price ratio: 94%
- Average days on the market: 161
- Sales currently pending: 19
Narragansett homes sale absorption rate has decreased to just over 7 months worth of home inventory. Yes, it is still a buyers market but is moving towards a balanced market now.
- Breakdown of the 22 Narragansett RI home sales in May is as follows: 9 homes sold under $300,000, 5 homes sold between $300,000-$400,000, 5 homes sold over $400,000 and 3 homes sold over $1 million. In May, the under $300,000 home was the one that generated the most buyers interest and is the one experiencing multiple offers.
- The luxury oceanfront Narragansett home market continues its strong run with sales continuing to be of buying interest.
Narragansett Home Sales May 2013
Current home sales are up 83% over the prior month, home inventory was up by 17 % and homes in contract were equal to the prior month. Single home prices are up 22% and home sales numbers sold are up 10% for May 2013 over May 2012. This is a wonderful increase for home sellers.
The Narragansett home sales market has been a stronger selling market this past year. It is expected to remain strong in 2013 also as one can see in the pending homes stacking up and awaiting closing.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you here.
The Narragansett homes’ sales market remains hot. This community is a waterfront Washington county community that 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 RI real estate homes for sale but markets her clients homes with extreme exposure on line? 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, 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 May 2013 Update.