Jamestown RI Real Estate Market Update July 2014
This Jamestown RI mid year home sales market update as of July 2014 is out. The home sales market for January – July 2014 is showing a 9% decrease in Jamestown home sales and a 2% drop in home prices as compared to the 
same time period in 2013. Overall, the luxury Jamestown housing market had one home in July sold for over $2 million in waterfront RI real estate.
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 waterfront Jamestown RI real estate, you want to understand the local real estate information.
Why? Because knowing how real estate sales are doing gives you knowledge for any home decision you may make.
Here is the current real estate market data for Jamestown, RI provided by Ginny Lacey Gorman of RI waterfront real estate through July 2014:
Properties active and on the market: 95 (1% more homes than the prior month)
- Single-family properties sold: 5 (38% lower than prior month)
- Average sales price: $707,000
- Median sales price: $720,000
- Sales price to list price ratio: 94%
- Average days on the market: 67
- Sales currently pending: 2 (increase by 1 pending over prior month)
- Sale values are skewed this month due to the $2.7 million dollar home that sold in Jamestown in July
Knowing the Jamestown RI real estate market is essential if you are considering listing your home for sale or in the market to buy.
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Jamestown’s home absorption rate is still attempting to get out of a Buyer’s real estate market with many months of home inventory. In addition, the luxury $1 million+ home sale market commands 50% of the current Jamestown homes for sale.
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Year to date there were 37 homes sold as of July 2014 as compared to same time period in 2013, a 9% decrease in homes sold. Jamestown home sale values decreased by 2% over the same period. 2014 has not been the best year for real estate here.
- Jamestown’s home inventory increased by 2 homes over the prior month, days on market decreased and list price to sold price dropped to 94%.
- Jamestown waterfront homes had one luxury homes sold in July for $2.779,000.
- Breakdown of the 5 Jamestown RI homes sold in July is as follows: 1 home sold under $300,000 and 1 home sold between $300,000-$400,000, 2 homes sold for over $400,000 (but less than $1 million) and 1 home sold for over 2 million dollars.
Jamestown RI Real Estate Market Update July 2014
The Jamestown RI town attractions
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. It is the easy connection between the towns of North Kingstown and Newport.
Are you considering buying or selling a Jamestown coastal home? Discussing your home needs is essential in this market and what I can do for Jamestown clients. Please reach out to me, Ginny Lacey Gorman, RI coastal real estate agent, at 401.529.7849 or email me at Ginny@RiHouseHunt.com for a home evaluation analysis.
I would love the opportunity to help you in your RI home search or home sale. The Jamestown home market offers great waterfront, water view and walk to water real estate for all in this island community. Jamestown RI Real Estate Market Update July 2014.
Catch a view of the most current and hottest Jamestown homes for sale here:
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