East Greenwich RI Real Estate Market July 2014
The East Greenwich RI real estate market for July 2014 is showing a surge in home sales with sales up 40% over the prior month.
What will 2014 bring in the East Greenwich housing market for the fall months? It seems to be more of
a down year and far behind 2013. The year-to-date 2014 East Greenwich real estate sales numbers through July shows a 33% drop over the same period in 2013.
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 in 2013. Yet the over $1 million homes continue to sell slowly in this market. Pricing aggressively is the order of the day for home sellers now.
Let us look at how this East Greenwich home sale market is doing this month:
Active homes on the market: 157 (+7% over prior month)
Average list to sales price: 93%
Average home sale price: $478,000 (-3% over prior month)
Median home sale price: $449,000(-4% over prior month)
Pending Homes: 10 (-50% over prior month)
Single family Sold Homes: 28 (40% increase in home closings over prior month)
In July, 28 single family homes sold as follows: 5 homes sold for less than $300,000, 7 homes sold between $300,000-$400,000 and 16 homes sold for greater than $400,000. A better rebound in the over $400,000 home market is evident in East Greenwich.
It is a balanced market now in this community as home inventory is at 5.8 months.
East Greenwich RI Real Estate Market July 2014
More detailed East Greenwich July home sales information to follow:
Average home sold for $478,000 at 93% of list price and days on market was 100.
Median home sold for $431,000 at 95% of list price and was on the market for 58 days prior to a sales agreement.
Comparing East Greenwich RI real estate sales year to date 2014 over year to date 2013 through July, a 33% decrease in home sales resulted. This is due to lack of inventory that is well priced and show ready. Yet, home sale prices are up by 2% over the same time period in 2014 over 2013 through July which is a continued favorable trend.
Even with these lower sales figures this year, 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.
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