South Kingstown RI Real Estate Market Report November 2014
The South Kingstown RI real estate report for single family homes for November 2014 indicates a 22% decrease in home sale volume over the prior month. This season of single family homes sold here has shown a 2% increase in home sales and a 1% increase in sold home values year over year through November 2014 as compared to the same time period in 2013. 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: 224 ( -10% decrease over prior month)
- Single-family properties closed in November 2014: 32 (22% decrease over prior month)
- Average sales price: $ 341,000
- Median sales price: $295,000
- Sales price to list price ratio: 96% ( 95% was the prior month)
- Average days on the market: 106 (5% increase from prior month)
- Sales currently pending: 48 (-4% decrease over prior month)
South Kingstown home absorption rate indicates it is nearly 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 32 South Kingstown sold homes is as follows for the month: 17 homes sold under $300,000, 6 homes sold between $300,000-$400,000, 9 homes sold for more than $400,000 but less than a million. 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 continues to be a desirable area for home buyers.
South Kingstown RI Real Estate Market Report November 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 talk with an internet savvy real estate agent about marketing.
The fall market has slowed with a 22% decrease in home sales over the prior month. The 2014 year to date home sales through November 2014 shows 15 more sold homes over the same time period compared to 2013 through November 2013. Home prices have increased by 1% 2014 ($3000 on average increase) year to date, as compared to last year y-t-d through November.
Recent South Kingstown Home Sale Reports you may be interested in reading:
I hope that this South Kingstown November 2014 home sale 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. Being a local real estate agent, having lived in this community for years and raising my family here keeps me in touch. Call me, Ginny Gorman, at 401.529.7849 or email me at ginny@RiHouseHunt.com when you require assistance in your buying and selling RI real estate needs.