Narragansett RI Real Estate Market Update May 2013. The Narragansett RI real estate market update for the month is provided by Ginny Lacey Gorman of RI waterfront real estate.
The following is the May 2013 single family home sales and activity in Narragansett real estate:
- Properties active and on the market: 170
- Single-family properties closed in May 2013: 22
- Average sales price: $538,609
- Sales price to list price ratio: 94%
- Average days on the market: 161
- Sales currently pending: 19
- Narragansett RI real estate home sales skyrocketed this month. However, the Narragansett luxury home market was making waves with 3 waterfront homew sold over a million dollars. No clearance sale here, just a realization that great Narragansett coastal property is not being made anymore!
- Breakdown of the 22 Narragansett RI home sales in May is as follows: 9 homes sold under $300,000, 5 homes sold between $300,000-$400,000, 5 homes sold over $400,000 and 3 homes sold over $1 million. In May, the under $300,000 home was the one that generated the most buying interest.
Narragansett RI Real Estate Market Update May 2013
Home sales were up by 83% this month over the prior month and homes sold on average in 5 1/2 months. The Narragansett RI home sales market had been a strong selling market in 2012 and it is rebounding now in 2013. Pending home sales continue to rebound upwards with amount equal to the prior month. Home sale prices are up 22% over May 2012!
Looking to buy a Narragansett home for sale? You’ve come to the right place!