How Is the East Greenwich RI Home Sale Market December 2014?
How is the East Greenwich RI home sale market December 2014 doing is the question of the day? It is heading up in real estate sales by 42% over the prior month! Yet pending home sales were off by 44% in December which may be due to holidays and vacations of home buyers.
There is no doubt due to the lack of snow, home buyers in East Greenwich and other local communities are busy out buying real estate to find the right priced home in the neighborhood they want now. The lack of home inventory here enables the well appointed homes to easily stand out to home buyers right now. This is a great time to market and sell your ‘ready to sell’ East Greenwich home.
The 2014 East Greenwich real estate market is showing a 18% decrease in home sales over 2013. But the great news is that 2014 home sale prices here have increased by 2% over 2013 which is encouraging to home sellers and homeowners. Most of the decrease in home sales is due to the lack of corporate relocations to East Greenwich this year from other parts of the country.
A suburb of the city of Providence, commuting distance to the big city and top rated East Greenwich schools draws the home buyers here. This RI real estate market’s strong yearly trend in single family home sales was demonstrated well in 2013. Yet the over $1 million homes continue to sell slowly in this home sale market, with none selling in December.
How is the East Greenwich home sale market doing this month:
Active homes on the market: 91 (-7% over prior month)
Average list to sales price: 93% (same as the prior month)
Average home sale price: $337,000
Median home sale price: $326,000
Pending Homes: 10 ( 44% less than prior month)
Single family Sold Homes: 17 ( +42% increase in home closings over prior month)
In December, 17 single family homes sold as follows: 8 homes sold for less than $300,000, 4 homes sold between $300,000-$400,000 and 5 homes sold for greater than $400,000.
The East Greenwich real estate market has moved to a sellers market as home inventory has lessened 5 months of homes.
How Is the East Greenwich RI Home Sale Market December 2014?
Let’s review the details in East Greenwich December home sales:
Average home sold for $337,000 at 93% of list price and days on market was 74.
Median home sold for $326,000 at 92% of list price and was on the market for 59 days.
Comparing East Greenwich RI real estate sales in 2014 over 2013, an 18% decrease in real estate sales resulted. Yet, average home sale prices ( $438,000 in 2014 compared to $429,000 in 2013) are up by 2% in 2014. In addition, luxury East Greenwich real estate had 4 homes sold in 2014 over $1 million as compared to 5 homes sold in 2013.
Even with these lower sales volume figures this year, East Greenwich has remained one of the most desirable RI home markets to buy into due to proximity to
Providence and Green Airport as well as the public school system.
Why do people move to this community of East Greenwich RI? Within Kent County this suburban town is noted for fine homes, great public schools, being near shopping malls and there is easy highway access. Its closeness to the Providence airport and the capitol of RI makes East Greenwich a choice town for commuters.
Considering Relocating to East Greenwich? Find out why so many home buyers choose it. A variety of neighborhoods from country estates to condos on Main Street is so appealing to East Greenwich real estate buyers. Noted for its choice of restaurants outside of Providence as well as marinas for boating enthusiasts.
Looking for a home in East Greenwich RI? Interested in homes for sale in East Greenwich? As an East Greenwich RI real estate specialist, I provide you insight, neighborhood information and choices for your next move. Let me do a more in depth analysis into what is happening in the market at your price point as well as surrounding towns.
Here are past East Greenwich market reports for 2014 to read:
East Greenwich RI Real Estate Market Report November 2014
East Greenwich RI Real Estate Market Report October 2014
East Greenwich RI Real Estate Market Report September 2014
