South Kingstown RI Home Sales August 2013
The South Kingstown RI home sales update for August 2013 is hitting the high note in home real estate sales right now. The South Kingstown rush for home closings was in June, homes closed in July were down 60% and then August home sales are up over July by 30%. It seems to be a yo-yo of a home market here this summer.
South Kingstown is a choice South County town to reside in with Wakefield RI as the main town center and the village district. In addition, with many villages and hamlets within it which correspond to what we would call neighborhoods. Located on the Atlantic Ocean it is great choice in a southern RI town location. Nearness to the ocean, great restaurants, country and beach atmosphere all plays its role when owning a home here.
Additionally, South Kingstown waterfront luxury home sales are still plentiful for buyers with cash on hand…you may want to take that jingle to a good real estate agent to help you out! It is said you live once so buy the property of the dreams if you find you can afford to. Let us take a look at how the South Kingstown real estate market is doing this month in home sales and contracts….
- Properties currently active on the market: 263 (2% drop in inventory)
- Single-family properties closed in August: 32 (39% increase in sales over July)
- Average home sales price: $ 311,153
- Median home sales price: $ 285,000
- Home Sales price to list price ratio: 95%
- Average days a home is on the market: 91
- Median days a home is on the market: 74
- Home Sales currently pending: 48 (1 less than prior month)
South Kingstown RI home absorption rate the last 4 months is 7 months which makes it a buyers market. The home absorption rate crept up a bit this month.
Green Hill home by the ocean
- The number of days a home is on the real estate market prior to going into pending status is just about 3 months on average. What does this mean for home sellers? So homes are taking less time to sell. Price to the market and you, as a seller, will sell your home faster and at the market price.
A breakdown of the 32 South Kingstown RI home sales for August is as follows for the month: 17 homes sold under $300,000, 9 homes sold between $300,000-$400,000 and 6 homes over $400,000. The under $300,000 market is continuing to be the strongest market in South Kingstown RI real estate for another month.
Active homes on the market decreased by 2% over the prior month, pending sales are remaining steady and home sales increased by 39 % over the prior month. Home sales in August 2013 are up by 28% over August 2012. Home sale prices are down over a year ago on average due to the weighted number of under $300,000 home sales.
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.
Looking for a South Kingstown home for sale? Click on the link to the left and search all homes on the market.
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 Ginny@RiHouseHunt.com.
South Kingstown Home Sales August 2013.