Charlestown RI Real Estate Market August 2014
Comparing the year to date 2013 to year to date 2014 through August, Charlestown home sales showed an upwards trend by 24% and home sale prices in Charlestown are off by 1%. All important news for Charlestown home sellers. And home buyers here need to be ready to buy and offer on homes here especially in the under $400,000 range. The Charlestown RI estate market update for August 2014 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 minimal updating. There are five factors that will sell your home so know what they are.
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 no homes on the ocean close for over $1 million sell.
This is a waterfront as well as rural community depending upon your desire for your Charlestown home. Home sales here for the month of August are up by 233% over the prior month, yet pending home sales are down by 22%. The last month of summer saw a huge surge in Charlestown home closings!
Home buyers are actively seeking good property values and lower priced affordable homes under $300,000 with lower real estate taxes.
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 August 2014 home sales update for the month, as follows:
- Properties active and on the market: 119 ( 2% less homes than prior month)
- Single-family properties closed: 20 ( 233% more homes sold than prior month)
- Average sales price: $342,000 ( 35% decrease over prior month)
- Median sales price: $305,000 (17% decrease over prior month)
- Sales price to list price ratio: 95% (93% last month)
- Average days on the market: 92 (12% increase over prior month)
- Sales currently pending: 14 (22% decrease over prior month)
Charlestown RI Real Estate Market August 2014
Charlestown RI real estate sales increased hugely in August again. No luxury oceanfront homes sold for over $1 million this month.
Charlestown’s home absorption rate has become a sellers real estate 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 August, pending sales decreased by 3 homes and Charlestown RI home closings increased by 14 homes.
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Breakdown of the 20 Charlestown RI home sales is as follows for the month: 9 homes sold under $300,000, 6 homes sold between $300,000-$400,000, 5 homes sold over $400,000 and 0 homes sold for over $1 million. Charlestown RI homes sales still indicate that the best value for location, taxes and coastal living is the under $400,000 home market here where the strongest housing demand is.
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 catching up on:
July 2014 Charlestown RI Real Estate Market Report
June 2014 Charlestown RI Real Estate Market Report
May 2014 Charlestown RI Real Estate Market Report
Looking for a Charlestown RI waterfront 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.
May this Charlestown RI home sales report update for August 2014 guide you in making better real estate decisions.
Charlestown RI Real Estate Market August 2014.
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