Narragansett Home Market Update August 2016

The Narragansett home sale market has slowed its pace with sales down a bit over the prior month.  Pending home sales are up by 23% month over month.   In Narragansett RI coastal real estate home values are up too by 11% for year over year for the first eight months of 2016 over 2015!  An amazing rise in home values.  

 

Why does Narragansett command a higher dollar value per square foot of home sold as compared to neighboring towns?

 

 This is a fact out of state buyers have difficulty understanding.  You are nearly surrounded by the ocean...this oceanfront, beach access, beachfront and nearly walk to water community commands the dollars because of the ocean.  In buyers minds, it is that amazing location that is so different that increases the dollars for every house here.  Land here is at a premium cost also.

 

Go to Narragansett Home Sale Update August 2016 for a full discussion of what is happening in this oceanfront home sale market on www.RIHouseHunt.com.  

 

19 homes were sold this month in Narragansett.  Overall, homes in all price ranges if priced well are the hot home commodity here but the under $400,000 market is hot. It is the beginning of fall and the buying enthusiasm is still active.   I know this Narragansett town so well having lived in it for many years, loving its beaches and know the neighborhoods and best buys well.

 

 

Ginny Lacey Gorman is your go to Narragansett Rhode Island waterfront and luxury real estate agent for southern RI real estate and beyond…knowing the geographic area, schools, happenings and important tidbits of local information. Email her at Ginny@RiHouseHunt.com to make an appointment to discuss your real estate needs.