South Kingstown RI Home Sales July 2013
The South Kingstown RI home sales update for July 2013 is hitting the low note in home real estate sales right now. The South Kingstown rush for home closings was in June and homes closed in July are down 60% over the prior month.
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 pure bliss of a town location live in. 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 what the South Kingstown real estate market is doing this month in home sales and contracts….
- Properties currently active on the market: 266 (4% drop in inventory)
- Single-family properties closed in July: 23
- Average home sales price: $ 325,847
- Median home sales price: $ 287,000
- Home Sales price to list price ratio: 96%
- Average days a home is on the market: 107
- Median days a home is on the market: 84
- Home Sales currently pending: 49 (40% increase from prior month)
South Kingstown RI home absorption rate the last 3 months is 6.7 months which makes it barely a balance market here. Neither a seller or buyer is at an advantage.
- The number of days a home is on the real estate market prior to going into pending status is just under 4 months on average. What does this mean for home sellers? So homes are taking longer 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 23 South Kingstown RI home sales for July is as follows for the month: 13 homes sold under $300,000, 5 homes sold between $300,000-$400,000 and 5 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 4% over the prior month, pending sales are up by 40% and home sales decreased by 60 % over the prior month. Home sales in July 2013 are down by 38% over July 2012. Last year, this month was a great month for South Kingstown home sales. What is something to talk about is that the price of home sales are up 10% over last year for July 2012 to July 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 July 2013.
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