North Kingstown Real Estate Market January 2018 Update

North Kingstown Home Sales for Sale in January

 
This is the North Kingstown RI single family housing market update for January 2018 and provided by Ginny Gorman, top selling southern RI real estate agent.  This is the beginning of the 2018 real estate home sale market and all homeowners and buyers want to know how pricing and home inventory will be this year.

This middle of the winter season is here with the waterfront on Narragansett Bay drawing the home buyers into this southern RI town.  This month is showing a decrease in home sales over the prior month down by 48% and pending home sales have increased over the prior month up  by 28 %.  North Kingstown Home sold values here are up by 3% year over year and home sales numbers are down 15%.  Due to the decreased number of homes for sale that are affordable to buyers, home sold numbers were down in volume in 2017.  This shortage of homes for sale is expected to continue into 2018.  North Kingstown is one of the ‘desirable’ towns for suburban southern RI home buyers to move to.

What makes North Kingstown the town to move into and live?

North Kingstown Real Estate Market January 2018 Update

 

In this southern RI coastal town it is about the community, life style, schools, Wickford Village, Narragansett Bay and great real estate that draws home buyers here.  North Kingstown is geographically nearly in the center of Rhode Island coastal real estate which makes commuting to Providence or south via Routes 1, 4 and 95 an added bonus to all who live here.  There is a suburban living environment here with the salt water close at hand that is so important to buyers.

Let us look at this first month of home sales 2018 in North Kingstown and understand why buyers are still drawn to it.  Home inventory is bought up quickly under $400,000.  Yet only when there is little work to improve on its ‘character’ and bones of a home.  Buyers prefer homes to be renovated and move in ready in order to receive qualified well priced offers.  This is a fact that all home sellers need to recognize when pricing in 2018.  It does not matter what you have spent of your house over the years but what the real estate market ‘says’ it is worth.  A well qualified real estate agent does their due diligence to analyze and share comparable sold homes with sellers.

 

 North Kingstown Real Estate January 2018 home sale information is as follows:

 

  • Properties currently Active on the market: 86 (5% increase of homes for sale over prior month)
  • 20 homes of the Active homes on the market (of the 86) are in sales agreement already waiting to close
  • Single-family properties closed this month14 ( 48% decrease over the prior month)
  • Average sales price: $375,000 North Kingstown Real Estate Market January 2018 Update
  • Median sales  price: $ 300,000 
  • Sales price to list price ratio: 98%  (97% last month)
  • Average days on the market: 58 (73 days last month also)
  • Sales currently pending: 13 (18 homes were in pending last month)
  • Average per square foot cost is $217 on sold homes

North Kingstown home absorption rate for the month is 7  months of home inventory (a normal market is 5-7 months of inventory ).  Based on this most recent home sales data, the North Kingstown real estate market is in a balanced 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 current home inventory.
  • Breakdown of the 14 North Kingstown sold homes is as follows for the month: 7 homes sold under $300,000, 1 home sold between $300,000-$400,000, 6 homes sold over $400,000 and homes sold over $ 1 million.  The highest priced home sold is just in the Plum Beach neighborhood on Champlin Road.

As an update and side note to this North Kingstown home sale market it is apparent that sellers are not willing to place their homes on the market until they identify a home they wish to purchase.  This is because homes are ‘scarce’ in so many price ranges.   Buyers need to really understand what this means.  You will be paying top dollar for homes that are move in ready in the right location and at market price.  Make sure you work with a real estate agent who knows the market and can negotiate well for you.  You need to be first in line when a home comes on the market now.

 My successful Video Strategic Marketing  and consistent on line marketing increases home sales in North Kingstown and all or RI for home sellers.  Discover why my state of the art marketing has sold homes with higher prices for my clients more than any other agent.  Presenting the home from the air, land or sea determines what is the best eye candy for home buyers.  

North Kingstown Home Sale Statistics as of January 2018

 

North Kingstown Real Estate Market January 2018 Update

The average North Kingstown home sold in January was a 3 bedroom, 2 bath home with an average of 1800 above ground square feet of living space.  

The average home sale in January 2018 closed in 58 days and the price per above ground square foot is $217.  

Looking for North Kingstown homes for sale?   Or perhaps you are considering relocating to North Kingstown?  Click the highlighted links to explore the right RI reasons to buy in North Kingstown and one of the many desirable neighborhoods here.

Looking for the newest homes and condos in North Kingstown?  This is new construction homes/condos that may be in your price range but vary in availability.  Yet, there are resale homes/condos also to consider here.   Remember not to go it alone when buying a home.  As a buyers’ agent there is no cost for my real estate guidance and strategic negotiation skills for clients who hire me and I represent you unlike the sellers’ agent.

Here is a sampling of the most current North Kingstown home inventory for sale under $500,000:

 

Here are some of the Most Up to Date North Kingstown homes for sale over $500,000:

Finding the most knowledgeable information for this town when you are home buying or selling is essential.  Talk with me about North Kingstown real estate and what you need to know in this market.  I live, play and work here and know the southern RI neighborhoods like the back of my hand.  Why would you entrust your home to someone to sell who is not a true North Kingstown specialist?  Reach me at 401.529.7849 or at ginny@RIHouseHunt.com today.

North Kingstown Real Estate Market January 2018 Recap

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I would love the opportunity to help you market and sell your home for the right price and earn your trust.  I am a totally ‘hands on’ top selling North Kingstown RI coastal and luxury real estate agent leaving no home behind for my buyers and sellers.  My area is all of Rhode Island in listing guidance.  Contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at ginny@RiHouseHunt.com.

Working with home sellers everyday to list, promote and market homes successfully for clients makes my day.  I live, work and play in North Kingstown and know this town like the back of my hand.    Call on me to guide you well in your real estate search here and/or to refer you onto a trusted real estate professional in another state.

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