North Kingstown Real Estate Market October 2016 Update

North Kingstown Home Sales October Recap

 

This is the North Kingstown RI single family housing market update for October 2016 provided by Ginny Lacey Gorman, top selling North Kingstown RI real estate agent of RI waterfront real estate.

Fall is here and the North Kingstown Bay waters are drawing the home buyers to this town still.  This month is showing a slight fall off in home sales over the prior month down by 33% (inventory is reduced) while pending home sales are up by 9%.  Home sale values are up  year to date by 7% through October 2016 over year to date October 2015 and home sales numbers are up 32% over the same period.  North Kingstown remains the most popular and desirable community to buy into this year in southern Rhode Island!

 

And you are asking why is that?  What makes North Kingstown the town to move into and live?

 

North Kingstown Real Estate Market October 2016 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 or 95 an added bonus to all who live here.

 

Let us look at this month of home sales in North Kingstown first and understand why buyers are drawn to it.  North Kingstown Real Estate October 2016 home sale information is as follows:

 

  • Properties currently active on the market: 149 ( 6% decrease over prior month)
  • Single-family properties closed this month: 29 ( 33% lower than the prior month)
  • Average sales price: $ 338,000 
  • Median sales  price: $ 327,000 
  • Sales price to list price ratio: 97%  (97% last month)
  • Average days on the market: 110  
  • Sales currently pending: 38 ( 9% higher than prior month)

North Kingstown home absorption rate for the month is 5 months of home inventory (a normal market is 5-7 months of inventory and considered a balanced market). The home inventory has decreased too and there are limited homes for sale in the under $300,000 range. Based on this most recent home sales data, the North Kingstown real estate market is a balanced market at present.  

  • 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 29 North Kingstown sold homes is as follows for the month: 10 homes sold under $300,000, 11 homes sold between $300,000-$400,000, 8 homes sold over $400,000 and 0 homes over $ 1 million.  All price ranges of real estate market remains a selling market in home sales this month.

North Kingstown Real Estate Market September 2016 Update

 

 My successful Video Strategic Marketing  and consistent on line marketing increases home sales in North Kingstown and beyond 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 Year over Year Home Sale Statistics as of October 2016

 

North Kingstown home sales this year through October 2016 compared to year to date through October 2015 shows a 32% increase in home sale numbers (from 275 homes sold in 2015 to 363 homes sold in 2016 y-t-d).  During this same period a 7% average increase in home sold prices occurred (from $347,000 through January-October 2015 to $373,000 through January-October 2016)

Real estate values have increased which shows a stronger North Kingstown real estate market moving forward through 2016 and a big rebound since 2008.  These are facts and figures every seller and buyer needs to know.  The average home sale in October 2016 closed in 88 days and the price per square foot is $203. The highest price home sold in October 2016 was $815,000 on Congdon Hill Road.

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 and vary in availability.  Yet, there are many 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.

 

 

Here is a sampling of the most current North Kingstown home inventory for sale under $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.  Yet all of Rhode Island is my territory!  Why would you entrust your home to someone to sell who is not a North Kingstown specialist?  Reach me at 401.529.7849 or at ginny@RIHouseHunt.com today.

North Kingstown Rhode Island Real Estate Market Update October 2016

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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.  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 you are moving to.

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