South Kingstown RI Real Estate Market September 2015
The South Kingstown RI real estate report for single family homes showed a fall slow down in home sales by 25% over the prior month. It is not unusual for a slow down in southern RI real estate to occur as we head into fall. Single family homes sold here have shown a 5% increase in home sales and a 6% increase in sold home values January 2015- September 2015 compared to the real estate statistics for January 2014- September 2014. It is still a healthy real estate market here where the key to home sales is pricing well to what the market says a home is worth.
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:
- Properties currently active on the market: 270 ( no increase over prior month, just +1 home)
- Single-family properties closed in the month: 30 (25% decrease over prior month)
- Average sales price: $ 302,000
- Median sales price: $292,000
- Sales price to list price ratio: 96% ( 95% in the prior month)
- Average days on the market: 63 (decreased by 47 days)
- Sales currently pending: 31 (6% decrease over prior month)
- South Kingstown home absorption rate indicates 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 balanced real estate market here will remain.
- Breakdown of the 30 South Kingstown sold homes is as follows for the month: 15 homes sold under $300,000, 11 homes sold between $300,000-$400,000, 3 homes sold for more than $400,000 but less than a million and 1 home sold over $1 million. The under $400,000 home market continues to be the strongest market for real estate continually.
The highest priced home sold this month here was $1,050,000 and located on Indian Lake, on 2 acres and with a separate wing for an au pair.
South Kingstown RI Real Estate Market Report September 2015 update gives home buyers and sellers the information they need to make a qualified real estate decision. Having a good overview of the real estate home sales in the town you are interested in buying into is an important step in making that home offer.
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 South Kingstown real estate agent about marketing. Ensuring a targeted marketing plan to home buyers online is an essential part of my RI real estate marketing including great photography.
Take a look at the hottest South Kingstown homes for sale right here and now. As current as you can get everyday with the best and most thorough Rhode Island real estate information provided to the consumer.
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I hope that this South Kingstown real estate current update gives you information and knowledge in this home sale 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. Knowing the septic changes in the Critical Resource Areas or flood zones in South Kingstown ensures when you work with me that you will know your costs well when home buying or selling.
Being a local South Kingstown real estate agent, having lived in this community for years and raising my family here keeps me in touch with this community. Call me, Ginny Gorman, at 401.529.7849 or email me at ginny@RiHouseHunt.com for the guidance you need in selling South Kingstown RI real estate.
South Kingstown RI Real Estate Report September 2015