How Is the East Greenwich RI Home Sale Market January 2015?
Even a picturesque and must sought after RI community such as East Greenwich RI has trouble heating up the January 2015 housing market. Home sales are down by 35% over the prior month yet pending home sales are up by 40% in January which means that buyers are out. The weather is not dampening home buyers spirits.
Home inventory in East Greenwich 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 with the snow all around. It really is a beautiful sight.
The 2014 East Greenwich real estate market showed a 18% decrease in home sales over 2013. But the great news is that 2014 home sale prices here increased by 2% over 2013 which is encouraging to sellers entering 2015. Most of the decrease in home sales is due to the lack of corporate relocations to East Greenwich from other parts of the country. Home sales are up 10% in January 2015 over January 2014 which shows improvement.
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 and needs a good recovery this year. Yet the over $1 million homes continue to sell slowly in this home sale market, with none selling in January.
How is the East Greenwich home sale market doing this month:
Active homes on the market: 87 (-4% over prior month)
Average list to sales price: 96% (93% in the prior month)
Average home sale price: $529,000
Median home sale price: $500,000
Pending Homes: 14 ( 40% more than prior month)
Single family Sold Homes: 11 ( -35% decrease in home closings over prior month)
In January, 11 single family homes sold as follows: 0 homes sold for less than $300,000, 2 homes sold between $300,000-$400,000 and 9 homes sold for greater than $400,000.
The East Greenwich real estate market is a buyers market.
Let’s review the details in East Greenwich January home sales:
Average home sold for $529,000 at 96% of list price and days on market was 125.
Median home sold for $500,000 at 96% of list price and was on the market for 139 days.
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 to read: