Narragansett Home Sales Update August 2013
The Narragansett home sales update August 2013 continues its strong upward real estate run.
As this is one of the RI real estate best coastal beach towns to reside in, Narragansett homes for sale offer great and varied property choices. Let us take a look at what the market is doing this month in home sales and contracts…
The Narragansett home sales August 2013 update in real estate home information is as follows:
- Properties active and on the market: 170 (4% less than prior month)
- Single-family properties sold in August 2013: 26 (up 13% over prior month)
- Average sales price: $ 508,560
- Median sales price: $ 347,500
- Sales price to list price ratio: 95% (same as last month)
- Average days on the market: 109 (36 %% over prior month)
- Sales currently pending: 26 (up by 18% over prior month)
Narragansett homes sale absorption rate has increased to about 6.5 months worth of home inventory. It is becoming a more balanced real estate market here.
- Breakdown of the 26 Narragansett RI home sales in August is as follows: 8 homes sold under $300,000, 6 homes sold between $300,000-$400,000, 9 homes sold over $400,000 and 3 homes over $1 million. In August , the $400,000 home market was the one that generated the most buyers interest.
- The luxury oceanfront Narragansett home market continues to be of buying interest with 3 homes over $1 million sold this month.
Staying informed on Narragansett Home Sales for August 2013 is key to every homeowner who is thinking of selling their home soon. Know thy market.
Current home sales are up 13% over the prior month, home inventory growth did not happen but decreased and pending homes in contract were up by 15% over the prior month. So the interest in Narragansett homes continues. Single home prices are up (due to high end waterfront homes sold skewing the numbers) and the number of home sales are up 30% for August 2013 over August 2012. Actually the last couple of months this Narragansett home sales market has been showing strength in sales numbers.
The Narragansett home sales market has been a stronger selling market this summer. It is expected to remain strong in 2013 even with the home inventory. Home sales are still down by 3% year to date over 2012 but home sale prices are up 1% over same time period.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you here. My knowledge of neighborhoods and condo complexes is an asset to your as a seller or a buyer.
The Narragansett homes’ sales market remains vibrant. This RI waterfront community in Washington county 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 agent that not only knows her Narragansett homes for sale but markets her clients properties 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, today 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 Update August 2013.