Narragansett Home Sales Update July 2013
The Narragansett home sales update July 2013 continues its strong upward real estate run.
Anawan Cliff home with a waterfront view
As this is one of the RI real estate best coastal beach towns to reside in, Narragansett homes for sale offer great and varied property choices. Let us take a look at what the market is doing this month in home sales and contracts…
The Narragansett home sales July 2013 update in real estate home information:
- Properties active and on the market: 178 (same as prior month)
- Single-family properties sold in July 2013: 23 (up 35% over prior month)
- Average sales price: $ 354,265(down 14% over prior month)
- Median sales price: $ 308,500 (down by 14% over prior month)
- Sales price to list price ratio: 95% (up by 1%)
- Average days on the market: 80 (down by 4% over prior month)
- Sales currently pending: 22 (down by 22% over prior month)
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Narragansett homes sale absorption rate has increased to about 8 months worth of home inventory. Yes, it is still a buyers market here.
- Breakdown of the 23 Narragansett RI home sales in July is as follows: 11 homes sold under $300,000, 4 homes sold between $300,000-$400,000 and 8 homes sold over $400,000. In July again, the $300,000- $400,000 home market was the one that generated the most buyers interest.
- The luxury oceanfront Narragansett home market continues to be of buying interest but no sales this month.
Staying informed on Narragansett Home Sales for July 2013 is key to every homeowner who is thinking of selling their home soon.
Current home sales are up 35% over the prior month, home inventory growth did not happen and pending homes in contract were down by 22% over the prior month. So the interest in Narragansett homes continues. Single home prices are down (due to high end waterfront home skewing the numbers) and the number of home sales are up 77% for July 2013 over July 2012. Actually the last couple of months this Narragansett home sales market has been showing strength in sales numbers.
The Narragansett home sales market has been a stronger selling market this past year. It is expected to remain strong in 2013 even with the excess home inventory on the market.
Looking to buy a Narragansett home for sale? You have come to the right place! Let me help guide you here. My knowledge of neighborhoods and condo complexes is an asset to your as a seller or a buyer.
Narragansett Beach in summer
The Narragansett homes’ sales market remains vibrant. This RI waterfront community in Washington county is known for its beaches, oceanfront Narragansett Pier, fabulous seafood restaurants and top RI public schools. This is all a great draw when put together for any Narragansett home buyer.
Looking for a RI waterfront 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. Call me today.
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 sales program work for you! Narragansett Home Sales Update July 2013.
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