North Kingstown Home Sale December 2015 Report
This is the North Kingstown RI single family housing market update for December 2015 and year end provided by Ginny Lacey Gorman of RI coastal real estate. Winter has arrived and the Wickford RI waters are exhibiting their blue grey color along Narragansett Bay. Year to date home sales here have increased by 12% for 2015 as compared to 2014 statistics. Home sale values are up by +4 % in 2015 over 2014 which is good for home sellers and homeowners. This is the second year in a row since the Great Recession of 2008 that home values have rebounded here.
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 nearly in the center of RI which makes commuting to Providence or south an added bonus to all who live here.
Let us look at the month of December and home sales in North Kingstown first.
The month of December 2015 North Kingstown real estate information is as follows:
- Properties currently active on the market: 166 (-17% decrease over prior month)
- Single-family properties closed: 36 (33% higher than the prior month)
- Average sales price: $ 407,000
- Median sales price: $ 374,000
- Sales price to list price ratio: 97% ( 96% last month)
- Average days on the market: 88 ( 33% increase over prior month)
- Sales currently pending: 36 ( 12% increase over prior month)
North Kingstown home absorption rate for the month is 4.6 months of home inventory (a normal market is 5-7 months of inventory and considered a balanced market). The home inventory has decreased a bit. Based on this most recent home sales data, the North Kingstown real estate market is a sellers 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 36 North Kingstown sold homes is as follows for the month: 13 homes sold under $300,000, 11 homes sold between $300,000-$400,000, 10 homes sold over $400,000 and 2 homes over $ 1 million. All levels of the real estate market remains a strong selling market in home sales this month.
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Home Sales in North Kingstown for the Year 2015
North Kingstown Home sales January – December 2015 compared to January – December 2014 shows a 12% increase (from 304 homes sold in 2014 to 338 homes sold in 2015) in home sales and a 4 % average increase (from $338,000 in 2014 to $353,000 in 2015) in home sold prices. Real estate values have increased which shows a stronger North Kingstown real estate market in 2015. These are facts and figures every seller needs to know. The average home in 2015 sold in 86 days and the price per square foot is $193 for a sold home. The highest price home sold in 2015 was in Wickford on the water at $2,250,000.
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.
North Kingstown RI Real Estate Report December 2015 Year End
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 unturned for my RI 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. I live, work and play in North Kingstown and know this town like the back of my hand. Hope you found the single family North Kingstown RI Real Estate Market Report for December more than a good read and the right information to take forward.