South Kingstown RI Home Sale Update August 2014

South Kingstown RI Home Sale Report August 2014

 

As one of the sought after Rhode Island coastal towns for living and enjoyment, the South Kingstown RI home sale report for single family homes for August 2014 follow.  The summer increase of sold homes has rebounded here and August shows a 47% increase in sales over July.  Getting settled in the buyers’ choice home was a priority for South Kingstown home buyers by the end of summer.

 

South Kingstown RI Home Sale Update August 2014

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: 275 ( -4% decrease over prior month)
  • Single-family properties closed in August 2014: 44 (47% increase over prior month)
  • Average sales price: $ 289,000 
  • Median sales  price: $275,000
  • Sales price to list price ratio: 94% ( prior month was 96%)
  • Average days on the market: 102 (16% increase from prior month)
  • Sales currently pending: 58 (-3% decrease over prior month)
  • South Kingstown home absorption rate indicates it is a balanced 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 44 South Kingstown sold homes is as follows for the month of August: 26 homes sold under $300,000, 8 homes sold between $300,000-$400,000 and 10 homes sold for more than $400,000 but less than a million.  No homes sold for $1 million or over this month.  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 all new homeowners.
South Kingstown RI Home Sale Report August 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.

 The summer market is over with a 47% increase in home sales over the prior month.  Yet, 2014 year to date home sales through August  2014 are down just 2% over same time period year to date through August 2013.  Home prices have decreased by 2% 2014, year to date, as compared to last year through August.

 

What we have in South Kingstown home sale values is a slight up and down this past summer in sale prices.  A lot of this has to do with the strength of the real estate market under $300,000 here which has been the preponderance of home sales recently.  These lower value of sold homes skew the the statistics here.  Still this is a healthy real estate market to buy into.

 

Take a look at the hottest South Kingstown homes for sale right here and now.  As current as you can get everyday with the Most real estate information provided to the consumer.
South Kingstown RI Home Sale Update August 2014

 

The South Kingstown community is a waterfront southern RI town that is fortunate to have the University of Rhode Island campus in its borders, cultural music and theater, notable restaurants, the Amtrak train station in Kingston and good public & private schools.  It is bordered by Narragansett, North Kingstown and Charlestown towns too.   And yes the Atlantic ocean is here with our phenomenal beaches and could be your ultimate location!   This is all a great draw when put together for the South Kingstown home buyer.

Recent South Kingstown Home Sale Reports:

South Kingstown Home Sale Report July 2014

South Kingstown Home Sale Report June 2014

I hope that this South Kingstown August 2014 real estate update gives you the information and guidance in this real estate market for the coming year.

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 Ginny Lacey Gorman is your go to South Kingstown Rhode Island waterfront real estate agent for real estate in RI and beyond…knowing the geographic area, schools, happenings and important tidbits of local information. Ginny raised her family here, played here and knows the South Kingstown neighborhoods and town well. Email her at Ginny@RiHouseHunt.com to discuss your home dreams too!  Find out why she is known as the RI agent in the sparkly red shoes.
 
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 401.529.7849.

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