East Greenwich RI Real Estate Market February 2014
The East Greenwich RI real estate market in February shows a winter chill in the housing market.
In 2013 from 2012 East Greenwich real estate saw a 3% home sales price increase. What will 2014 bring in the housing market here? It is too early to tell but this winter put a crimp on home buying activity and inventory stayed low.
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 and home sales this month have slipped by 33% from the prior month. The wintry weather has hampered home buyers in their search but remember spring will bring the buying opportunities.
Let us look at how this market is doing this month:
Active homes on the market: 85
Average list to sales price: 94%
Average home sale price: $413,000
Median home sale price: $335,000
Pending Homes: 14 (equal to last month’s pending home sales)
Single family Sold Homes: 6 (33% drop in home closings over prior month)
In February, 6 single family homes sold, as follows: 3 homes sold for less than $300,000, 0 homes sold between $300,000-$400,000 and 3 homes sold for greater than $400,000. No homes sold for over $1 million. It is a buyers market right now in this community.
East Greenwich RI Real Estate Market February 2014
More detailed East Greenwich February home sales information to follow:
Average home sold for $413,000 at 94% of list price and days on market was 74. The average home sale price has increased here. Home inventory rose by a modest 8%.
Median home sold for $345,000 at 94% of list price and was on the market for only 45 days prior to an agreement. It shows here that the East Greenwich home market is very tight.
Comparing East Greenwich RI real estate sales year over year February 2014 over 2013, showed an decrease in home sales by 60%. This is due to lack of inventory that is well priced as well as the weather. Home prices are up by 3% over the same time period.
Rhode Island real estate projections are anticipated to be slowing for 2014. However, East Greenwich has remained one of the stronger home markets and I expect this to continue this year.
Greenwich Bay
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 February 2014 shares current home sale market information useful to homeowners and potential buyers. Stop by every month for the newest in real estate information.
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