Narragansett RI Real Estate Market Update June 2014
The Narragansett RI real estate market update for June 2014 is feeling a steady wave of home sales this summer. In fact, this real estate market is up 5% in home closings over the prior month.
As this is one of the RI real estate best coastal beach towns to reside in, Narragansett homes for sale offer a variety property choices from home sellers. The choice of beaches is numerous here…can you imagine you have a choice of several!!
Claim your cottage or have plenty of cash for your Ocean Road home. Let us take a look at what the market is doing this June in home sales…
The Narragansett home sale market June 2014 update is as follows:
- Properties active and on the market: 187 (20% higher than the prior month)
- Single-family properties sold in the month: 22 (up by 5% from the prior month)
- Average sales price: $ 550,000
- Median sales price: $ 370,000
- Sales price to list price ratio: 95%
- Average days on the market: 92 (59% decrease in days on market)
- Sales currently pending: 21 (a 10% increase over the prior month)
Narragansett homes sale absorption rate increased to 8.5 months worth of home inventory. It is a buyers real estate market here.
So the Narragansett real estate market from January 2014 through June 2014 shows home sales up by 9% over the same time period in 2013 which is continued good news for sellers. However, the Narragansett home prices have dropped by 3% over the same time period 2014 over 2013. Still 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 June 2014
- Breakdown of the 22 Narragansett home sales in June is as follows: 8 homes sold under $300,000, 9 homes sold between $300,000-$400,000, 3 homes sold over $400,000 and 2 homes sold over $1 million. In June, the homes in the over $300,000 price range generated the most buyers interest as reflected in their home purchases.
- The luxury oceanfront Narragansett home market felt the surf up with two $1 million and over home sales occurring. Third month in a row that luxury waterfront homes are selling here.
Staying informed on Narragansett Home Sales in June 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 accordingly.
Consider an agent that uses state of the art aerial videos to showcase, market and sell Narragansett homes.
Current home sales are up by 5% over the prior month, home inventory growth increased by 20% and pending homes in contract to close increased by 10%. So the interest in Narragansett homes is still there with buyers.
The Narragansett home sales market continues to increase significantly since 2011.
The Narragansett homes sale market remains steady and is increasing this 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 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 community!
