Narragansett RI Home Sales | RI Real Estate | November 2012
It is about Narragansett beach
Narragansett RI Home Sales | RI Real Estate | November 2012.
Real estate market date for Narragansett, RI provided by Ginny Lacey Gorman of waterfront RI real estate:
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- Properties active and on the market: 137
- Single-family properties closed in November 2012: 18
- Average sales price: $ 596,638
- Median sales price: $ 335,000
- Sales price to list price ratio: 94%
- Average days on the market: 172
- Sales currently pending: 17
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Narragansett home absorption rate: 8 months of home inventory(a normal or steady market would be 5-7 months of homes on the market; anything under 5 months of inventory is considered a seller’s market, above 7 months is considered a buyer’s market). Based on this most recent home sales data, the Narragansett real estate market is a buyers market.
Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the real estate active market.
- Breakdown of the 18 Narragansett RI home sales is as follows for the month: 6 homes sold under $300,000, 5 homes sold between $300,000-$400,000 and 5 homes sold over $400,000 and 2 homes sold for over $1 million. In November the under $400,000 home was the one that generated the most buying interest.
Sand Hill Cove breakwater
The Narragansett RI home sales market has been a strong selling market this year with number of home sales up 63% over 2011!
Home prices have increased year to date over 2011 by 67%. Yes, these are accurate home sale volume and sale price increases that are remarkable. The buyers were out in full purchase mode to buy ocean front and near coastal RI real estate.
Narragansett RI Home Sales | RI Real Estate | November 2012
The Narragansett community is a waterfront South County community that is known for its beaches, coast line, notable restaurants and good schools. This is all a great draw when put together for Narragansett home buyer.
If you would like to consider 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 atRiByTheBay@gmail.com. Let’s discuss your home needs now. Let my on line real estate exposure program work for you!
Narragansett RI Home Sales | RI Real Estate | November 2012.
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