Jamestown RI Real Estate Market Update November 2015
This Jamestown RI real estate report update as of November 2015 is indicating a home sale market that is stronger than 2014. Overall, the home sales were down by 36% over the prior month with pending home sales increasing by 11%. This real estate market, year to date, through November 2015 is showing a 24% increase in Jamestown in home sales over year to date January-November 2014 and a 14% increase in homes sold values in the same period. The luxury Jamestown housing market had 2 sold homes this month for over $1 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 coastal Jamestown RI real estate, you want to understand this local home 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 November 2015:
Properties active and on the market this month: 87
- Single-family properties sold: 7 (4 homes less than prior month)
- Average Sales price sold: $ 928,000 (last month it was $582,000)
- Median Sales price sold: $650,000
- Sales price to list price ratio: 94% (last month it was 94%)
- Days on the market: 156 (110 days last month)
- Sales currently pending: 10 (9 homes pending last 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 excessive home inventory. In addition, the luxury $1 million plus Jamestown home sale market commands a large part of the homes for sale here.
Jamestown RI Real Estate Market Update November 2015
- Jamestown’s home inventory decreased by 6% over the prior month, days on market increased to nearly 4 months and list price to sold price remained at 94%.
- Jamestown waterfront homes had 2 luxury and waterfront homes sold.
- 7 Jamestown RI homes sold this month is as follows: 0 home sold under $300,000, 0 homes sold between $300,000-$400,00, 5 homes greater than $400,000 but less than $1 million and 2 homes sold for over $1 million.
Discover more about the beautiful Beavertail State Park on Jamestown in this video:
Comparing January-November 2015 to January-November 2014 showed a 24% increase in Jamestown home sales year over year. This market went from 59 homes sold during this period in 2014 to 73 homes sold so far in 2015. Home sold values increased by 14% over the same time period to $820,000 on average. The highest price home so far this year here is $ 6.2 million. The average square foot cost of a luxury Jamestown sold house so far in 2015 is $ 569.
This is the real estate news for home sellers they want to hear and buyers will need to pay more for homes in Jamestown now. But it is a long term investment for any home buyer.
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.
Here are some of the most current and up to date Jamestown homes for sale:
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, Jamestown 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.
Jamestown RI Real Estate Market Update November 2015
~~~~~~~~~~~~~~~~~~~~~~
