South Kingstown RI Home Sales | RI Real Estate | November 2012
Real estate market data for South Kingstown, RI provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 216
- Single-family properties closed in November 2012: 29
- Average sales price: $306,134
- Median sales price: $335,900
- Sales price to list price ratio: 96%
- Average days on the market: 86
- Sales currently pending: 29
South Kingstown home absorption rate: 7.4 months of home inventory(a normal or steady
market would be 5-7 months of homes on the market; anything under 5 months of inventory is considered a seller’s market, above 7 months is considered a buyer’s market). Based on this most recent home sales data, the South Kingstown real estate market is a buyers market.
Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the home market.
- Breakdown of South Kingstown sold homes is as follows for the month: 11 homes sold under $300,000,14 homes sold between $300,000-$400,000 and 4 homes sold over $400,000. The under $300,000 market is continuing to be the strongest market in home sales.
The South Kingstown RI home sales market has been a strong selling market this year with number of home sales up 19% over 2011! Home prices have increased year to date over 2011 by 1%. These are positive signs of moving towards a more normal home sales market.
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. This is all a great draw when put together for the searching South Kingstown home buyer.
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 RI Home Sales | RI Real Estate | November 2012.
Rhode Island real estate agent and licensed RI Real Estate agent and listing specialist, Ginny Lacey Gorman, helps list homes and waterfront property in Rhode Island at 401-529-7849.