South Kingstown Home Sales| March 2013
The South Kingstown home sales for March 2013 has continued its upward real estate run. As a popular southern RI town to reside in, the home inventory remains high with many home choices. Additionally, South Kingstown waterfront luxury home sales are on the upswing. Let us take a look at what the market is doing this month in home sales and contracts….
- Properties currently active on the market: 221
- Single-family properties closed in March : 22
- Average home sales price: $ 421,986
- Median home sales price: $ 300,500
- Home Sales price to list price ratio: 94%
- Average days a home is on the market: 161
- Median days a home is on the market: 120
- Home Sales currently pending: 35
South Kingstown RI home sales still has a 10 month home absorption rate. This is due to home inventory increasing faster than homes have been selling.
- The number of days a home is on the real estate market prior to going into pending status has increased to over 5 months. What does this mean for home sellers? Sellers are pricing their homes higher than the real estate market can bear. Price to market and you as a seller will sell your home faster and at the market price (which you ultimately otherwise wait 5 months to get…)
- A breakdown of the 22 South Kingstown RI home sales for March is as follows for the month: 11 homes sold under $300,000, 5 homes sold between $300,000-$400,000, 4 homes over $400,000 and 2 homes 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 13% over the prior month, pending sales were down by 1% but home sales increased by 57% over February. This months home sales are up by 10% over March 2012.
South Kingstown Home Sales | March 2013
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 at RiByTheBay@gmail.com.
South Kingstown Home Sales | March 2013.
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