South Kingstown Home Sale Update December 2015
The South Kingstown real estate report December 2015 year end for single family homes shows a minimal decrease in home sales by 3% over the prior month. Single family homes sold here have shown a 2% increase in home sales and a 3% increase in sold home values from January 2015- December 2015 compared to the real estate statistics for January 2014- December 2014. This is a stable RI home sale market where the key to home sales is pricing well to what the market says a home is worth or the belief in the buyers’ heart. The slight home sale slowdown shows that the beginning winter market is a typical slowdown for home sellers yet 32 homes closed last month.
This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate.
Housing update for South Kingstown RI for December 2015:
- Properties currently active on the market: 180 ( 18% decrease over prior month)
- Single-family properties closed in the month: 32 (3% decrease over prior month)
- Average sales price: $ 364,000
- Median sales price: $293,000
- Sales price to list price ratio: 94% ( 95% in the prior month)
- Average days on the market: 136 (nearly doubled over prior month)
- Sales currently pending: 20 (41% decrease over prior month)
- South Kingstown home absorption rate indicates it is back to a buyers market with 9 months worth of home inventory. Home absorption is the amount of time it will take to sell all the homes currently on the market without adding to it. If sales continue this way a buyers real estate market here will remain.
- Breakdown of the 32 South Kingstown sold homes is as follows for the month: 17 homes sold under $300,000, 4 homes sold between $300,000-$400,000, 11 homes sold for more than $400,000 but less than a million and 0 homes sold over $1 million. The under $300,000 real estate market continues to be the strongest market in home sales and desirability in this town.
- The average square foot sales price of a home sold this year 2015 in South Kingstown is $232/square feet.
- The highest priced home sold this year 2015 here was $1,675,000 on the ocean.
South Kingstown Real Estate Report December 2015 Year End
374 homes were sold in South Kingstown from January-December 2015 with an average price sold of $347,000 as compared to 368 homes sold in town from January-December 2014 with an average price of $336,000.
South Kingstown Real Estate Market Report December 2015 year end update gives home buyers and sellers the information they need to make a qualified real estate decision. Having a good overview of the South Kingstown RI real estate home sales in the town you are interested in buying into is an important step in making that home offer.
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