Jamestown RI Real Estate Market Report December 2014
This Jamestown RI real estate report update as of December 2014 is now out for the month and for the 2014 year. The real estate market for January through December 2014 is showing a 16% decrease in Jamestown home sales and a 2% increase in home sold prices as compared to 2013. The luxury Jamestown housing market had 1 home this month that sold for over $1 million in waterfront RI real estate. Overall the over $1 million homes sold in 2014 was up by 1 home over 2013 with 12 homes sold in this category.
Knowing the waterfront and Jamestown RI coastal real estate area is part of the RI home discovery process. If you are buying or selling a home in coastal Jamestown RI real estate, you want to understand the local housing market. It is important to know that although real estate taxes are low here the average price of a home is significantly higher than surrounding Washington and Newport county properties.
Here is the current Jamestown RI real estate market report provided by Ginny Lacey Gorman of RI waterfront real estate for December 2014:
Properties active and on the market in December: 63 ( 21% less homes than the prior month)
- Single-family properties sold: 8 ( 33% more than prior month)
- Average sales price: $ 726,000
- Median sales price: $ 451,000
- Sales price to list price ratio: 96% (prior month was 91%)
- Average days on the market: 140 (39% decrease in days on market)
- Sales currently pending: 3 ( 25% less than prior month)
Knowing the Jamestown RI real estate market is essential if you are considering listing your home for sale or in the market to buy. Especially if your home is in the luxury Jamestown real estate range.
Jamestown’s home absorption rate is still attempting to get out of a buyers’ real estate market with 7.9 months of home inventory. In addition, the luxury $1 million plus Jamestown home sale market commands over 42% of the current homes for sale.
- Jamestown’s home inventory decreased by 17 homes over the prior month, days on market decreased by over 2 months and list price to sold price increased to 96%.
- Jamestown waterfront homes had 1 luxury home sold.
- Breakdown of the 8 Jamestown RI homes sold this month is as follows: 2 homes sold under $300,000, 2 homes sold between $300,000-$400,000, 3 homes sold for over $400,000 but less than a million and 1 home sold for over 1 million dollars.
Yearly Housing Trends in 2014 for Jamestown RI Real Estate Market
Year to date there were 67 homes sold through December 2014 as compared to 2013. This was a 16% decrease in homes sold for 2014. Jamestown home sale values increased by 2% in 2014 over 2013. 2014 has not been a strong home sales year for Jamestown real estate but home sold values are maintaining value.
Jamestown is a waterfront Newport County Rhode Island community that enjoys private real estate on a hideaway island that is unique to this ocean state.
The town itself is known for its stunning coast line, its true island feel, one of a kind Beavertail State Park and coastal luxury living by the locals. It is a higher end community of island homes due to its geography between the towns of Newport and North Kingstown. The island itself is called Conanicut Island and has working farms on it, stunning landscapes of the ocean and coastlines to admire yet a small town appeal.
Are you considering buying or selling a Jamestown luxury coastal home? Discussing your home needs is essential in this market and what I can do for Jamestown 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 home sale.
Jamestown RI Home Market Report December 2014