South Kingstown Real Estate Market Report May 2012

 

South Kingstown Real Estate Market Report May 2012

 

25 South Kingstown homes have been sold in May 2012, as follows:

1 home sold over $1 million (waterfront South Kingstown home)

4 homes sold over $400,000
7 homes sold for between $300,000-$400,000
13 homes sold for under $300,000

May 2012 home sales are down over last year’s May 2011 by 4%. A minimal decrease in sales over the prior year.

 

South Kingstown Average Home Sale Price in May 2012 was $343,191. South Kingstown Rhode Island real estate homes sold on average for 94% of list price and was on the real estate market for 149 days on average.

South Kingstown Median Home Sale Price in May 2012 was $297,000. South Kingstown homes sold for a median price point of 95% of list price and was on the real estate market for 87 days.

 

There were 290 South Kingstown homes for sale in May 2012 which was a 13% increase in homes over the prior month. The number of sold homes has increased by 4 homes this month. Pending sales dropped by 1 home.

 

South Kingstown continues to have a good supply of homes for sale yet the waterfront South Kingstown homes for sale are selling slowly. One waterfront South Kingstown home sold in May .

 

There are 43 homes in pending status in South Kingstown RI (pending sales are homes awaiting closing and the numbers are down by 1 home over the prior month). Yet, the home absorption rate for South Kingstown homes for sale remains high and continues as a buyers market. Pricing is key to selling a home in this market – along with the right location and condition.

 

1 South Kingstown short sale closed in May 2012.

 

Mortgage rates remain extremely low for all home buyers! Why would you continue to pay rent if you can afford to buy- you are not building home equity, the home is not yours and you are missing out on income tax savings too!

 

If you are seeking a South Kingstown home to buy or sell or interested in the RI real estate market, give me a call at 401.529.7849. I raised my family in South Kingstown for 20 years and know the value of homes, schools and South Kingstown neighborhoods well. South Kingstown Real Estate Market Report May 2012

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Ginny Lacey Gorman is your go to waterfront RI real estate agent for real estate in South Kingstown RI and beyond…knowing the geographic area, schools, happenings, important tidbits of information and businesses well.

As a North Kingstown short sale agent, if you are having trouble paying your mortgage contact Ginny to help you through the short sale process successfully.

Waterfront, oceanfront, luxury and coastal RI real estate are her specialty but all of RI is her backyard. When you are in need of a good professional for your buying and selling needs and an internet savvy marketer and agent who sells RI houses in this real estate market – call Ginny at 401.529.7849. RI real estate agent in the sparkly red shoes…because there is no place like home!