Narragansett RI Real Estate Market Update March 2014
The Narragansett home sales real estate market for March 2014 is feeling a burst in blooming home sales.
Narragansett Home Sale Market
Black Point nature preserve in Narragansett RI
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 sellers to buyers. Let us take a look at what the market is doing this March in home sales…
The Narragansett RI real estate report March 2014 update is as follows:
- Properties active and on the market: 123
- Single-family properties sold in the month: 16 (up by 100% from the prior month)
- Average sales price: $ 368,000
- Median sales price: $ 324,000
- Sales price to list price ratio: 95%
- Average days on the market: 82
- Sales currently pending: 22 (up 47% from prior month)
Narragansett homes sale absorption rate dropped to 7.6 months worth of home inventory. It is nearly a balanced real estate market here.
- Breakdown of the 16 Narragansett home sales in March is as follows: 6 homes sold under $300,000, 6 homes sold between $300,000-$400,000 and 4 homes sold over $400,000. In March, the homes in the under $400,000 price range generated the most buyers interest.
- The luxury oceanfront Narragansett home market sat quietly this month with no $1 million and over home sales.
Staying informed on Narragansett Home Sales in March 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.
Current home sales are up by 100% over the prior month, home inventory growth increased by 6% and pending homes in contract increased by 47% over the prior month. So the interest in Narragansett homes is increasing but not as much as last year same month. Home sales are down 11% March 2014 over March 2013.
The Narragansett home sales market continues to increase significantly since 2011 which bodes well for 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 condo complexes is an asset to you as a seller. I lived in Narragansett for many years and know it so well.
You have found the RI waterfront Real Estate Agent that not only knows her Narragansett homes for sale but markets her clients properties with extreme exposure on line. I would love the opportunity to help you.
If you are considering buying a coastal Narragansett RI home or interested in selling your home, contact Ginny Lacey Gorman, waterfront RI real estate agent, today at 401.529.7849 or email me at Ginny@RiHouseHunt.com. Let’s discuss your home needs now. Let my on line real estate marketing program work for you!
Narragansett RI Real Estate Market Update March 2014
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