East Greenwich RI Real Estate Market Report May 2015

The East Greenwich RI home sale market in May 2015 continues to improve in real estate sales as the summer weather approaches. Although East Greenwich home sales are down by 20% over the prior month yet pending home sales are up 21% over the prior month. This means that buyers are out looking for the best home as the inventory increases. This is all good news for East Greenwich real estate home sellers.

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 14 % increase in home sales over 2014 y-t-d through May. Also, 2015 home sale prices here increased by 7% over 2014 y-t-d through May. The average building sold square foot cost rose by 6% so far in 2015 as compared to y-t-d through May 2014.

Why such an increase? The higher priced homes in East Greenwich were the pick for the buyers in January through May 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 May.

How is the East Greenwich home sale market doing this month:

Active homes on the market: 145 (+17% over prior month)

Average list to sales price: 97% (96% in the prior month)

Average home sale price: $394,000

Median home sale price: $358,000

Pending Homes: 40 ( 83% higher than prior month)

Single family Sold Homes: 15 ( 21% increase in home closings over prior month)

In May, 12 single family homes sold as follows: 4 homes sold for less than $300,000, 4 homes sold between $300,000-$400,000 and 4 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 May 2015 over year to date May 2014:

58 homes sold so far in 2015 as compared to 51 in 2014 which is a 14% increase in home sales

Average home sold price in 2015 so far is $464,000 as compared to $434,000 in 2014 which is a 7% increase in home sold prices.

So we have higher home sales volume and sold values in 2015 so far through May.

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.

Looking to buy an East Greenwich home? The neighborhoods of East Greenwich are unique to each other and real estate guidance is essential here. Talk to me about them, whether home or condo buying, and I will guide you through the details you must know about before you put in an offer.

Here are a few of the most current East Greenwich homes for sale:

Let me know if I can be of assistance in marketing your home successfully at 401.529.7849 today. I would like the opportunity to earn your trust and business and I am well versed in all types of residential real estate and will ensure your needs are my top priority!