South Kingstown Home Sales Market Update October 2013
The South Kingstown RI real estate update for October 2013 is continuing its steady run in home sales.
The South Kingstown rush for home closings continues at a steady pace.
Additionally, South Kingstown waterfront luxury home sales are still plentiful for buyers with cash on hand! 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 how the South Kingstown home sales market is doing this month in real estate contracts and closings….
- Properties currently active on the market: 233 (9% drop in inventory)
- Single-family properties closed in October: 35 (3% decrease in sales over prior month)
- Average home sales price: $ 322,255
- Median home sales price: $ 333,000
- Home Sales price to list price ratio: 96%
- Average days a home is on the market: 91
- Median days a home is on the market: 44
- Home Sales currently pending: 39 ( 15% increase over prior month)
South Kingstown RI home absorption rate is remaining at just under 7 months which makes it a buyers market.
The number of days a home is on the real estate market prior to going into pending status is just about 3.1 months on average. What does this mean for home sellers? So homes are taking more time 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 35 South Kingstown RI home sales for October is as follows for the month: 16 homes sold under $300,000, 11 homes sold between $300,000-$400,000 and 8 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 9% over the prior month, pending sales increased by 15% and home sales decreased a bit by 3% over the prior month. Year to date home sales in October 2013 are up by 16% over year to date October 2012. Home sale prices are up over a year ago on average by .3%.
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.
Looking for a South Kingstown home for sale? Click on the link to the left and search all homes on the market right now that are active.
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 Ginny@RiHouseHunt.com. Let me guide you through the maze of South Kingstown real estate for October and beyond.
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Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard. When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this real estate market call Ginny at 401.529.