Jamestown RI Real Estate Market January 2016
This Jamestown RI real estate market January 2016 is a quiet winter market. Overall, the home sales were down by 17% over the prior month with pending home sales decreasing by 62%. Remember we are in the midst of winter here! Yet, the past year Jamestown real estate market in 2015 showed a 18% increase in home sales for the year compared to 2014. The luxury Jamestown housing market had no sold homes this month for over $1 million in waterfront RI real estate. Read on to see what the home sale Jamestown market is doing…
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 January 2016:
Properties active and on the market this month: 65
- Single-family properties sold: 5 (1 home less than prior month)
- Average Sales price sold: $ 671,000 (last month it was $828,000)
- Median Sales price sold: $645,000
- Sales price to list price ratio: 91% (last month it was 91%)
- Days on the market: 152
- Sales currently pending: 5 (13 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.
Jamestown RI Real Estate Market January 2016
- Jamestown’s home inventory decreased by 4% over the prior month, days on market stayed at 4 months and list price to sold price remained at 91%.
- Jamestown waterfront homes had 0 luxury and waterfront home sold.
- 5 Jamestown RI homes sold this month is as follows: 0 home sold under $300,000, 1 homes sold between $300,000-$400,00, 4 homes greater than $400,000 but less than $1 million and 0 home sold for over $1 million.
Discover more about the beautiful Beavertail State Park on Jamestown in this video:
This Jamestown home market went from 67 homes sold during 2014 to 79 homes sold in 2015. Home sold 2015 values increased by 14% over 2014 to $820,000 on average as we enter 2016.
The luxury Jamestown home market saw a 33% increase in 2015 home sales. From 12 – million dollar plus homes sold in 2014 to 16 – million dollar plus homes sold in 2015. The average square foot cost of a Jamestown sold house in 2015 is $355. Plenty to be inspired about if you own in Jamestown or considering to buy into this market in 2016!
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 or 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 January 2016
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