East Greenwich RI Real Estate Market April 2014
The East Greenwich RI real estate market in April 2014 is showing a spring chill this month in this housing market.
What will 2014 bring in the housing market here? The year-to-date 2014 real estate sales numbers through April show a 45% drop over the same period in 2013. Much of this lag in home sales is due to limited show ready home inventory.
A stunning suburb of the city of Providence, commuting distance to the big city and top rated schools draws the home buyers here. This RI real estate market’s strong yearly trend in single family home sales was demonstrated in 2013. However, home sales this month have decreased by 57% over the prior month.
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Let us look at how this market is doing this month:
Active homes on the market: 113 (+26% over prior month)
Average list to sales price: 96%
Average home sale price: $441,000 (-6% over prior month)
Median home sale price: $427,000 (+5% over prior month)
Pending Homes: 20 (+25% over prior month)
Single family Sold Homes: 6 (57% decrease in home closings over prior month)
In April, 6 single family homes sold, as follows: 2 homes sold for less than $300,000, 1 home sold between $300,000-$400,000 and 3 homes sold for greater than $400,000. It is back to a buyers market right now in this community as home inventory increased by 26%.
East Greenwich RI Real Estate Market April 2014
More detailed East Greenwich April home sales information to follow:
Average home sold for $441,000 at 96% of list price and days on market was 25. The average home sale price has decreased by 6% over the prior month and home inventory rose by 26%.
Median home sold for $427,000 at 96% of list price and was on the market for 8 days prior to a sales agreement! Now for the homes sold this was a hot market period for them.
Comparing East Greenwich RI real estate sales year to date 2014 over year to date 2013 through April, a decrease in home sales by 45% resulted. This is due to lack of inventory that is well priced as well as the tough winter weather. Home prices are up by 1% over the same time period in 2014.
Even with these lower sales figures, East Greenwich has remained one of the stronger RI home markets.
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.
East Greenwich RI Real Estate Market April 2014 shares current home sale market information for homeowners and buyers. Stop by every month for the newest in East Greenwich RI real estate information.
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