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Green Hill Real Estate
Those of us who reside in the Green Hill, Rhode Island knows that many of the homes in our neighborhood are enjoyed and occupied by generations of families.
This creates a unique real estate market where there is relatively little movement. This makes transition of ownership of homes a spectator sport.
Michael Good, Sales Associate at Mott & Chace shared highlights on Green Hill real estate with Green Hill Rocks:
Two Properties Have Sold in 2017
881 Green Hill Beach Road, a new construction, 2,450 square foot home overlooking Green Hill Pond sold on March 13, 2017 for $1,450,000.
78 Slope Avenue, a 1962 contemporary home with 2,428 square feet sold on March 24, 2017 for $512,500.
Biggest Sale of 2016
38 Coast Guard Avenue, Built in 1992 this 2,674 square foot custom built home with 180 degree views of Atlantic and Block Island sound, with 3 bedrooms and 3 bathrooms sold for $1,550,000.
Current Listings (North of Green Hill Road)
79 Browning Street, 719 square feet, $529,000.
99 Green Hill Avenue, 780 Square Feet, $529,000.
53 Land n’ Sea Drive, 2,243 square feet, $799,900.
4 Rosebriar, 1,608 feet, $829,000.
Green Hill Land for Sale
0 Rosebriar, .6 Acres, $569,500.
Green Hill Beach Road, .63 Acres Pond side, $875,000.
0 Green Hill Ocean Drive, .92 Acres, $450,000.
2016 Green Hill Real Estate Stats
- 11 properties sold
- Average months on market ~ 7.6 months
- Average % sales price/assessment – 117%
- 5 properties did not reduce the original list price
- Average discount from original list price – 7%
- 6 properties did reduce the initial list price
- Average discount from original list price – 17.3%
- Average discount from reduced list price – 8%
Rhode Island Real Estate Highlights
Rhode Island real estate statistics [data as of February 2017] show an increasing demand for well-priced homes. The median home price for new listings increased 14.6%. Homes priced according to market value that did not experience a price adjustment during the listing period sold at 96% of the original list price; this is an increase of 4% over last year.
2016 was a good year, and the early 2017 spring market is bullish. Rhode Island has a shortage of available homes for sale. This puts upward pressure on pricing. Rising interest rates encourage a buying environment.
Michael Good shares his outlook for what’s ahead:
Pent-up demand, low interest rates, rising consumer confidence and a rising economy were hallmarks of the 2016 market. These factors continue to encourage movement in all sectors of the market, including Green Hill Beach area. Whether you’re thinking about selling or buying a home in Green Hill, I invite you to reach out for advice and insights and can be reached at 401-651-6858 or firstname.lastname@example.org.