East Greenwich RI Real Estate Market Report July 2015
The East Greenwich RI home sale market in July 2015 has slowed in real estate sales as the summer weather is here. East Greenwich home sales are down by 39% over the prior month and pending home sales are down 17% as well. It is a stronger market here this year overall and shows that buyers are out looking for the best home that suits them as the inventory increases in an outstanding community.
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 summer around the corner.
The 2015 East Greenwich real estate market shows a 26 % increase in home sales over 2014 y-t-d through July. Also, 2015 home sale prices here increased by 2% over 2014 y-t-d through July.
Why such an increase? The higher priced homes in East Greenwich were the pick for the buyers in January through July 2015. Higher amenities in the homes selling meant increased square footage costs and higher sold prices for sellers. The market is up and the sale prices are reflecting the surge in home 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. No homes over $1 million sold in July.
How is the East Greenwich home sale market doing this month:
Active homes on the market: 130 (14% less than prior month)
Average list to sales price: 96% (97% in the prior month)
Average home sale price: $454,000
Median home sale price: $415,000
Pending Homes: 20 ( 17% less than prior month)
Single family Sold Homes: 25 ( 39% decrease in home closings over prior month)
In July, 25 single family homes sold as follows: 5 homes sold for less than $300,000, 7 homes sold between $300,000-$400,000 and 13 homes sold between $400,000 and $1 million. No homes sold for over $1 million this month here.
The East Greenwich real estate market with the increase in inventory is a higher end buyers RI real estate market.
Let us review the market details in East Greenwich home sales year to date through July 2015 over year to date July 2014:
125 homes sold so far in 2015 as compared to 99 in 2014 (1/2014-7/2014) which is a 26% increase in home sales.
Average home sold price in 2015 so far is $467,000 as compared to $459,000 in 2014 which is a 2% increase in home sold prices.
So we have higher home sales volume and sold values in 2015 so far through July. All great news for East Greenwich home sellers.
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 the most current East Greenwich homes for sale in the $200,000-$800,000:
Are you considering buying or selling an East Greenwich home? Discussing your home needs is essential in this market and what I can do for East Greenwich clients successfully. Please reach out to me, Ginny Lacey Gorman, RI coastal and luxury real estate agent, at 401.529.7849 or email me at Ginny@RiHouseHunt.com for a home evaluation analysis and to discuss how we can work together. I would love the opportunity to help you in your RI home search or sale.
East Greenwich RI Real Estate Market Update July 2015