South Kingstown RI Home Sales | February 2013
South Kingstown RI home sales for February 2013 have bounced back up as the real estate market data indicates. Let us take a look at what the market is doing this month in home sales and contracts….
The following South Kingstown information is provided by Ginny Lacey Gorman of waterfront RI real estate :
- Properties currently active on the market: 195
- Single-family properties closed in February: 14
- Average home sales price: $ 352,296
- Median home sales price: $ 294,500
- Home Sales price to list price ratio: 96%
- Average days a home is on the market: 96
- Median days a home is on the market: 61
- Home Sales currently pending: 36
South Kingstown RI still has a many month absorption rate. Due to home inventory increasing faster than homes have been selling.
This real estate market which has been one of the strongest markets in southern RI real estate over 2012.
- The number of days a home is on the real estate market prior to going into pending status has shortened. What does this mean for home sellers? Sellers are pricing their homes to market.
A breakdown of South Kingstown RI home sales for February is as follows for the month: 8 homes sold under $300,000, 5 homes sold between $300,000-$400,000 and 1 home sold over $1,000,000. The under $300,000 market is continuing to be the strongest market in South Kingstown home sales.
Active homes on the market increased by 4% over the prior month, pending sales were down by 13% but home sales increased by 75% even though we experienced the blizzard in February! Home sales were up by 50% over February 2012.
The South Kingstown community is a waterfront South County community that is fortunate to have the University of Rhode Island campus
in its borders, cultural music and theater, notable restaurants and good schools. Being a coastal RI town offers great beaches to all its residents whether private, town or state beaches.
If you would like to buy a South Kingstown RI home or interested in selling, contact Ginny Lacey Gorman today at 401.529.7849 or email me atRiByTheBay@gmail.com.
South Kingstown RI Home Sales | February 2013.