East Greenwich RI Real Estate Market February 2015
This East Greenwich Rhode Island town’s real estate has trouble springing out of the winter blues in the February 2015 housing market. Home sales are down by 36% over the prior month yet pending home sales are up by 29% this month which means that buyers are out looking for the best home for them. Even with the tough winter weather, home sales are up 20% over year to date home sales for the prior year. More than encouraging for East Greenwich real estate.
Home inventory in East Greenwich enables the well appointed RI real estate 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 disappearing quickly.
The 2015 East Greenwich real estate market shows a 20% increase in home sales over 2014 y-t-d through February. Also, 2015 home sale prices here increased by 54% over 2014 y-t-d through February which is encouraging to sellers in 2015. The average building sold square foot cost rose by 8% so far this year as compared to year to date February 2014.
Why such an increase? The higher priced homes in East Greenwich were the pick for the buyers in January and February 2015. Higher amenities in the homes selling meant increased square footage costs and higher sold prices.
East Greenwich is a suburb of the city of Providence, commuting distance to the big city and top rated East Greenwich public schools draws the home buyers here. This market’s strong yearly trend in single family home sales indicates a better recovery for housing here this year. Yet the over $1 million homes continue to sell slowly and not at all in this home sale market, with none selling in February.
How is the East Greenwich home sale market doing this month:
Active homes on the market: 75 (-9% over prior month)
Average list to sales price: 94% (96% in the prior month)
Average home sale price: $635,000
Median home sale price: $575,000
Pending Homes: 18 ( 29% more than prior month)
Single family Sold Homes: 7 ( -36% decrease in home closings over prior month)
In February, 7 single family homes sold as follows: 1 home sold for less than $300,000, 0 homes sold between $300,000-$400,000 and 6 homes sold for greater than $400,000.
The East Greenwich real estate market is still a buyers market.
Let’s review the details in East Greenwich February home sales:
Average home sold for $635,000 at 94% of list price and days on market was 160.
Median home sold for $575,000 at 95% of list price and was on the market for 139 days.
So these higher sales volume figures this year are indicating a pent up demand for the right priced and sweet location home. The over $400,000 home market is staying strong.
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.
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 a few of the most current East Greenwich homes for sale:
This is the time to reach out to me, Ginny Gorman, by email at ginny@RiHouseHunt.com or call me at 401.529.7849 to discuss listing your East Greenwich house for sale, developing a solid marketing plan and getting it show ready to sell. Working with a successful luxury East Greenwich RI real estate agent will give you the expertise, local knowledge and strongest negotiation skills at your finger tips. Find out why my online and aerial marketing sells homes for sellers!