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Narragansett RI Real Estate Market Update | February 2013

By Ginny Gorman

Real Estate Agent with RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate

March 11, 2013 08:29 PM

Narragansett RI Real Estate Market Update | February 2013

Narragansett RI Real Estate Market Update | February 2013. The Narragansett RI real estate market data for the month is provided by Ginny Lacey Gorman of RI waterfront real estate.

The following is the February 2013 single family home sales and activity in Narragansett real estate:

Properties active and on the market: 118
Single-family properties closed in February 2013: 8
Average sales price: $ 573,487
Sales price to list price ratio: 91%
Average days on the market: 170
Sales currently pending: 16

Narragansett home absorption rate has crept up again to a home buyers market. With 23% of the homes for sale being in the $1 million plus luxury market category, it will take some time to get to a balanced buyers and sellers market.

Breakdown of the 8 Narragansett RI home sales in Februay is as follows: 4 homes sold under $300,000, 2 homes sold between $300,000-$400,000, 1 home sold over $400,000 and 1 home sold for over $1 million. In February, the under $300,000 home was the one that generated the most buying interest.

Narragansett RI Real Estate Market Update | February2013

Waterview Narragansett home

Home sales were down in February by 27% over the prior month due to the Blizzard of 2013, home sales were down over last year at the same time period and home inventory levels increased by 8 homes (equal to what was sold in February). Yet, the Narragansett RI home sales market had been a strong selling market in 2012. The past home sales numbers support a strenthening of this market as the spring season comes upon us.

Looking to buy a Narragansett home for sale? You’ve come to the right place!

Narragansett is a waterfront Washington county community that is known for its beaches, oceanfront and water view homes, ecletic restaurants and high scholastic ranking schools.

Looking for a coastal RI real estate agent that not only knows her Narragansett RI real estate market and markets her clients homes with the utmost exposure on line? I would love the opportunity to help you. Call me today, Ginny Lacey Gorman, waterfront RI real estate agent, at 401.529.7849 or email me at RiByTheBay@gmail.com. Let’s discuss your home needs now. Let my on line real estate sales program work for you! Narragansett RI Real Estate Market Update | February 2013.

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Ginny Lacey Gorman is a Rhode Island waterfront Real Estate Agent who works and knows the Narragansett RI geographic area of homes for sale, schools, happenings and important tidbits of information well.

Coastal, water view, ocean front, luxury and waterfront Rhode Island real estate are my specialty. If your considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you! When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.

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Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Ginny, Thanks for providing the market update for Narragansett RI. Have a good day.

Mar 11, 2013 08:34 PM

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

I would think that we are now heading into th most active time of the year for this market. I have the pending preapprovals for second homes on the CT shoreline.

Mar 11, 2013 08:40 PM

Debbie Gartner

The Flooring Girl - White Plains, NY

The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, that blizzard definitely caused a LOT of things to slow down. March should be an outstanding month, though.

Mar 11, 2013 08:47 PM

Clint Mckie

Desert Sun Home, commercial Inspections - Carlsbad, NM

Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Ginny,

Looking at the sale price ratio. It it at about 91% not too good when wanting to sell your home. But look at the numer of homes in closing is 16 of them. There is a lot of work to do and March will help bring out the itchy feet for a change, like buying a new home.

Have a good day in North Kingstown.

Best, Clint McKie

Mar 11, 2013 08:56 PM

Andrea Swiedler

Berkshire Hathaway HomeServices New England Properties - New Milford, CT

Realtor, Southern Litchfield County CT

Ginny, Great report on the Narragansett, RI real estate market. Competition is fierce it would seem. Luxury home areas are quite different than other areas.

Mar 11, 2013 09:27 PM

Anita Clark

Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA

Realtor - Homes for Sale in Warner Robins GA

Ginny: Buyers do have many choices in the Narragansett RI real estate market...sellers need to make sure their home is updated and right priced.

Mar 11, 2013 09:43 PM

Barbara Todaro

RE/MAX Executive Realty - Happily Retired - Franklin, MA

Previously Affiliated with The Todaro Team

Good morning, Ginny.... I think once April hits, your market in all of the waterfront towns will stregthen....

Mar 11, 2013 09:47 PM

Melissa Zavala

Broadpoint Properties - Escondido, CA

Broker, Escondido Real Estate, San Diego County

Good Morning, Ginny. Now that spring has just about sprung, I bet that Narragansett will see lots of buyers and hopefully more sellers, too!

Mar 11, 2013 11:43 PM

John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Spring is here... And it's a great time to buy a home in the Narragansett RI Real Estate Market! Contact area REALTOR Ginny Gorman and put her area real estate knowledge to work for you today!

Mar 11, 2013 11:59 PM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Ginny, Narragansett Bay is a beautiful location, and has some wonderful waterfront properties. For an experienced waterfront Realtor - call Ginny Gorman and let her guide you through a smooth process.

Mar 12, 2013 12:53 AM

Christine Pappas - REALTOR®

eXp Realty - Willoughby, OH

When You’re Ready To Move, I’m Ready To Help

Narragansett RI Real Estate Market Update | February 2013 - This report really showcases your knowledge! RI Home Buyers and Home Sellers are wise to buy and sell with you Ginny!

Mar 12, 2013 01:05 AM

Ginny Gorman

RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI

Homes for Sale in Southern RI and beyond

Fewer waterfront Narragansett homes for sale under $800k now...they've been snapped up. Showed one yesterday on a half acre, potential dock but needs major improvements of at least $200k...so looking for a listing now down there...they don't make anymore waterfront property!

Mar 12, 2013 01:12 AM

George Souto

George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT

Your Connecticut Mortgage Expert

Ginny I love Narragansett. Any buyer would be very lucky to own a home there

Mar 12, 2013 10:02 AM

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

Good Morning, Ginny. Narragansett Bay does have some great waterfront properties. Ginny Gorman is the Realtor to call to get results!

Mar 12, 2013 07:14 PM

Erika Rogers

Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT

St George Utah Real Estate & Relocation Specialist

The numbers in the Narragansett RI Real Estate Market looks very promising. Wishing you all the best Ginny, keep up the good work!

Mar 12, 2013 10:54 PM

Waynette Hoover Araj

Keller Williams Realty - Asheboro, NC

Connecting your Dreams with the Right Real Estate

Hello Ginny, this is very good information on the Narragansett RI Real Estate Market. Very informative and easy to understand. You really are a top notch North Kingstown short sale agent.

Mar 12, 2013 11:26 PM

Melissa Muse Wiggans

Real Estate Muses - San Antonio, TX

CRS, GRI, ABR - Real Estate Muses

Very well done with the market report Ginny. Narragansett RI home sellers should make sure that their home's pricing is right or buyers will refer to other active properties. All the best!

Mar 12, 2013 11:30 PM