South Kingstown RI Home Sale Report June 2014
As one of the sought after Rhode Island southern coastal towns for living and enjoyment, the South Kingstown RI home sale report for single family homes for June 2014 follows. What a remarkable summer surge in home buying activity there is with real estate sales up 42% from the prior month!
This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 295 ( 5% increase over prior month)
- Single-family properties closed in June 2014: 44 (42% increase over prior month)
- Average sales price: $ 330,000 ( 3% decrease in price over prior month)
- Median sales price: $294,000 ( 4% increase in price over prior month)
- Sales price to list price ratio: 97% ( prior month was 94%)
- Average days on the market: 75 (38% decrease from prior month)
- Sales currently pending: 51 (6% increase over prior month)
South Kingstown home absorption rate indicates it is nearing a balanced market. The amount of homes on the market for home buyers to choose from is lessening.
Home absorption is the amount of time it will take to sell all the homes currently on the market.
- Breakdown of the 44 South Kingstown sold homes is as follows for the month of June: 8 homes sold under $300,000, 9 homes sold between $300,000-$400,000, 3 homes sold for more than $400,000 but less than a million and 2 homes sold for over $1 million. The under $400,000 home market was the strongest buyers interest in home sales in the past month.
The summer market is hot with a 42% increase in home sales over the prior month. Yet, year to date home sales through June 2014 are down 13% over June 2013 and home prices are up 2% over the same period.
Recent South Kingstown Home Sale Reports:
I hope that this South Kingstown June 2014 home sales report gives you the guidance in this real estate market for the coming year.