Narragansett Single Home Sales February 2018 Update
The Narragansett Rhode Island home sale market in February 2018 is in end of winter mode with home sales decreasing 54% this month over the prior month. Home inventory is reduced right now and continues to be an active real estate market.
There is no question that the Narragansett RI real estate coastal home sales continue their momentum in 2018. As this year has shown the real estate market is still active for sellers. If you are a potential home seller why are you waiting to sell? Now is the time to get ahead of the curve and list your home with a knowledgeable RI real estate agent.
Narragansett RI Real Estate Market Fabruary 2018 Report
As this is one of the prime southern RI coastal real estate oceanfront beach towns to reside in, Narragansett offers home buyers a variety of property choices. Narragansett homes for sale are more expensive than surrounding towns.
There is a reduced inventory of land here and lots are usually smaller. So it is best to be prepared for this reality and always make sure your financing is in place when buying. Homes in all price ranges are selling now but especially the over $400,000.
Claim your location or have plenty of cash for your Ocean Road, Great Island, Anawan Cliffs, Calef Avenue,Narragansett Pier or oceanfront Narragansett neighborhood home. The desirability never seems to lessen with home buyers here. Let us take a look at what the market is doing this month in home sales…
The Narragansett home sale market February 2018 update is as follows:
Properties active and on the market: 66 (12% more than the prior month)
- Single-family properties sold in the month: 6 (13 homes less than prior month)
- Average sales price: $ 440,000
- Median sales price: $ 423,000
- Sales price to list price ratio: 95% (93% last month)
- Average days on the market: 58 ( 138 days prior month)
- Sales currently pending: 15
Narragansett homes sale absorption rate is 11 months worth of home inventory this month.
2018 February Real Estate Market Data Recap
19 homes sold in Narragansett this year through February as compared to the same time frames in 2017 when 28 homes were sold. The average Narragansett house still commands an above average price for the Rhode Island real estate market at $503,000. The average square foot cost of a home here so far in 2018 is $347. It will continue to be a busy and competitive market for home buyers especially on or within walking distance to the ocean this year.
One of the neighborhoods in demand is Narragansett Pier which has a few homes on the market, homes here go into contract quickly and the price point will put you up well over $500,000. Remember that the RI real property here, we are talking land. It is expensive so small lots are the norm especially in the beach neighborhood.
Home sales in Narragansett RI Real Estate Market this month, as follows:
Breakdown of the 6 Narragansett home sales this month is as follows: 1 home sold under $300,000, 1 home sold between $300,000-$400,000, 4 homes sold over $400,000 but less than $1 million and 0 home sold for over $1 million.
- The luxury oceanfront Narragansett home market is an active market for luxury home buyers this year. One home $1 million and over have sold this year.
- The highest price home sold this month was $680,000 in the Bonnet Shores neighborhood.
Staying informed on Narragansett Real Estate Sales and its trending analysis is key to every homeowner who is thinking of selling. Know the home market, work with a knowledgeable local real estate agent who knows online marketing, can negotiate well on your behalf and price your home right.
Consider an agent that uses state of the art aerial videos to showcase, market and sell your Narragansett home the right way. Online marketing is a key real estate tool in marketing and successfully selling your home to set your home apart as ‘eye candy’. Consistent use of social media to promote real estate is essential to all home sellers to obtain a high price.
The Narragansett homes sale market remains busy and is still selling with home buyers. It does not seem to matter the time of year for oceanfront buying is always on buyers’ minds. This RI waterfront community in Washington County is known for its beaches, oceanfront beaches, seafood restaurants and good RI public schools.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you through the Narragansett maze of homes. My knowledge of Narragansett neighborhoods ( Great Island,Calef Avenue, Harbour Island, etc.) and condo complexes is an asset to you as a seller. The time to find the neighborhoods you want to live in is now.
The most current and up to date Narragansett homes for sale are here for your viewing under $800,000:
Finding the right luxury Narragansett home for sale to fit your needs is important. You do not want to miss a wonderful location or home that meets your needs. Like a safari, the watchful eye must be out there scanning and viewing the current market continuously for that right place in Narragansett or beyond. From the side streets of Caswell and Boon Streets to Othmar, Rodman and Brown Streets and on, the Narragansett house hunt is the name of the game here.
Whether you are buying or selling in the RI coastal real estate market, I would love the opportunity to earn your trust and business. Having lived for many years in the Narragansett community, I know and love it well.
As always, call me, Ginny Lacey Gorman, at (401) 529-7849 or email me at ginny@RiHouseHunt.com so we may discuss your RI real estate options.
February 2018 Narragansett RI Home Sales Market Recap