Charlestown RI Real Estate Update October 2013
Charlestown RI estate market update for October 2013 is provided by Ginny Lacey Gorman of RI coastal real estate. Home sales here year to date are down 18% over 2012 and home sale prices fell back by 2%!
The Charlestown RI home sales market this October 2013 is feeling the cool wind of fall as sales lessen in this oceanfront
community over the prior month.
- 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.
- It is the amazing coastline and serene landscapes that draw home buyers to this location. Here is the October 2013 home sales update, as follows:
- Properties active and on the market: 109 ( down 8% from prior month)
- Single-family properties closed in October: 13 ( down by 32% over last month)
- Average sales price: $ 304,000
- Median sales price: $ 250,000 (6% decrease over prior month)
- Sales price to list price ratio: 95% (1% increase over prior month)
- Average days on the market: 93 (28% decrease over last month)
- Sales currently pending: 15 (down by 1 sale over last month)
Charlestown RI home sales had a decrease in sales this October. No luxury oceanfront homes sold this month for $1 million and over. Now with the changes in flood insurance, waterfront homes will be evaluated along with flood plain maps.
Charlestown’s home absorption rate has moved to a buyers real estate market once again.
- 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.
- Home inventory shrunk in October, pending sales decreased by 1 home and Charlestown RI home closings decreased by 6 homes over the prior month.
- Breakdown of the 13 Charlestown RI home sales is as follows for the month of September: 8 homes sold under $300,000, 3 homes sold between $300,000-$400,000 and 2 homes sold over $400,000. Charlestown RI homes sales still indicate that the best value for location, taxes and coastal living is the under $300,000 home market here.
Charlestown RI real estate update in home sales year to date through October 2013 are down by 18% over same time period through October 2012.
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.
Again be aware that flood plains and flood maps have changed and FEMA is no longer subsidizing flood insurance. Always check the flood zones out with your insurance agent before making an offer on a home. The increases to flood insurance premiums have gone into effect as of this month. Although there are Senate committees reviewing these increases, no delay is currently happening with the flood cost changes now.
Search for Charlestown RI homes for sale here.
Looking for a Charlestown RI waterfront real estate agent ? Ginny Lacey Gorman knows her Charlestown RI waterfront real estate market. 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 a small 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 real estate home sales numbers in October give the home buyers and sellers the necessary home information to make wise real estate decisions.
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