Update on the East Greenwich RI Real Estate Market January 2014
The East Greenwich RI 02818 home sale market in January shows a stable real estate 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?
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 a bit from the prior month. The wintry weather has hampered home buyers in their search but remember spring is just a few short weeks away!
Let us look at how this market is doing this month, as follows:
Active homes on the market: 79
Average list to sales price: 93%
Average home sale price: $328,000
Median home sale price: $290,000
Pending Homes: 14 (18% drop in pending home sales)
Single family Sold Homes: 9 (40% drop in home closings over prior month)
In January, 9 single family homes sold, as follows: 5 home sold for less than $300,000, 1 home 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 Update January 2014
More detailed East Greenwich January home sales information to follow:
Average home sold for $328,000 at 93% of list price and days on market was 91. The average home sale price has decreased here as buyers reached for the under $300,000 homes this month.
Median home sold for $290,000 at 95% of list price and was on the market for 113 prior to an agreement.
Comparing East Greenwich RI real estate sales year over year 2014 over 2013, showed an increase in home sales by 25%. Also, 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.
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 Update January 2014 shares current home sale market information useful to homeowners and potential buyers.