South Kingstown RI Home Sale Report October 2014
The South Kingstown RI home sale report for single family homes for October 2014 indicates a 5% increase in home sale volume over the prior month. The Fall season increase of sold homes has shown a 2% increase in home sales and a 3% increase in home values year over year through October 2014. Sustaining this growth in home sales should be an encouraging factor for sellers.
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: 249 ( -5% decrease over prior month)
- Single-family properties closed in October 2014: 41 (2% increase over prior month)
- Average sales price: $ 413,000
- Median sales price: $340,000
- Sales price to list price ratio: 95% ( prior month was the same)
- Average days on the market: 101 (28% decrease from prior month)
- Sales currently pending: 50 (-7% decrease over prior month)
South Kingstown home absorption rate indicates it is a balanced real estate market. Home absorption is the amount of time it will take to sell all the homes currently on the market. This is a real estate market that neither favors buyers or sellers.
- Breakdown of the 41 South Kingstown sold homes is as follows for the month: 15 homes sold under $300,000, 11 homes sold between $300,000-$400,000, 13 homes sold for more than $400,000 but less than a million and 2 homes sold over a million dollars. The under $300,000 home market continues to be the strongest buyers interest in home sales. Looking at the continued high number of pending homes awaiting closing, this housing market and community is very desirable for home buyers.
South Kingstown RI Home Sale Report October 2014 gives the home buyer the information they need to make a qualified home purchase.
Home sellers need to be very aware of pricing and their competition in the real estate market now…understand the secret sauce of pricing a home and use it well.
The fall market has picked up with a 5% increase in home sales over the prior month. The 2014 year to date home sales through October 2014 shows 6 more sold homes over the same time period compared to 2013 through October 2013. Home prices have increased by 3% 2014, year to date, as compared to last year through October.
Recent South Kingstown Home Sale Reports you may be interested in reading:
I hope that this South Kingstown October 2014 real estate update gives you the information and guidance in this real estate market for the coming year. As a South Kingstown real estate agent, I work with home buyers and sellers to ensure the best guidance, representation and abilities are used in their real estate negotiations. Call me at 401.529.7849 or email me at ginny@RiHouseHunt.com when you require assistance in your buying and selling RI real estate needs.