Narragansett RI Real Estate Market Update July 2014
The Narragansett RI real estate market update for July 2014 is feeling a pullback in home sales this month.
In fact, this Narragansett real estate market is down 23% in home sales this month over the prior month.
As this is one of the RI coastal real estate best coastal beach towns to reside in, Narragansett offers a variety property choices from home sellers. The choice of beaches is numerous here and you may garner one of your own if you have the deep pockets for it.
Claim your cottage or have plenty of cash for your Ocean Road or oceanfront Narragansett home, its desirability never seems to lessen with home buyers. Let us take a look at what the market is doing this July in home sales…
The Narragansett home sale market July 2014 update is as follows:
- Properties active and on the market: 203 (9% higher than the prior month)
- Single-family properties sold in the month: 17 (down by 23% from the prior month)
- Average sales price: $ 432,000 (down by 21% over the prior month)
- Median sales price: $ 378,000
- Sales price to list price ratio: 96%
- Average days on the market: 74 (20% decrease in days on market)
- Sales currently pending: 17 (19% decrease over the prior month)
Narragansett homes sale absorption rate increased to 11.9 months worth of home inventory. It is a buyers real estate market here yet it depends upon the neighborhood too. Narragansett Pier has minimal homes for sale and the price point will put you up over $600,000 for a home.
So the Narragansett real estate market from January 2014 through July 2014 shows home sales up by 2 % over the same time period in 2013 which is continued good news for sellers. And the Narragansett home prices have increased by 1 % over the same time period 2014 over 2013. The Narragansett is a brisk home sale market that appeals to many buyers. It is all about being by the beach!
Narragansett RI Real Estate Market Update July 2014
- Breakdown of the 17 Narragansett home sales in July is as follows: 3 homes sold under $300,000,5 homes sold between $300,000-$400,000 and 9 homes sold over $400,000. In July, the homes in the over $400,000 price range generated the most buyers interest as reflected in their home purchases.
- The luxury oceanfront Narragansett home market felt the calming surf as no homes on the water over $1 million sold. This is the first month in 4 months that this is the case.
Staying informed on Narragansett Home Sales in July 2014 is key to every homeowner who is thinking of selling their home soon. Know thy market, work with a real estate agent who really knows this market and plan pricing your listing accordingly.
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 tool in marketing your home.
Current home sales are down 23% over the prior month, home inventory growth increased by 9% and pending homes in contract to close decreased by 19%.
The Narragansett home sales market continues to increase moderately since 2011.
The Narragansett homes sale market remains steady and is moderating now for the summer. This RI waterfront community in Washington county is known for its beaches, oceanfront Narragansett Pier, fabulous seafood restaurants and top RI public schools.
Another past Narragansett Home Sale Report:
Narragansett RI Real Estate Market Update June 2014
Narragansett RI Real Estate Market Update May 2014
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you through the southern RI real estate maze of homes. My knowledge of Narragansett neighborhoods ( Great Island, Calef Avenue, Harbour Island, etc.) and southern RI condo complexes is an asset to you as a seller.
I lived in Narragansett for many years, know it so well and enjoy the life style here. This community really imparts a flare of beach, oceanfront and seaside living…if that is what you are looking for, you have found the right coastal RI community!
Narragansett RI Real Estate Market Update July 2014
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