North Kingstown RI 02852 – Real Estate Market Report- First Quarter 2012
Is the North Kingstown housing market improving in 2012 over 2011?
A review of the home sales the first 3 months of 2012 over the same period in 2011 demonstrates that North Kingstown real estate sales are up by 8% in single family home sales and down by 16% in condo sales.
However, both single family home prices and condo sale prices in first quarter 2012 are showing an increase in sales price.
This is encouraging news for single family home sellers since the number of homes for sale is still plentiful in the North Kingstown real estate market. Condo sales continue to struggle with a lack of sales volume in this current real estate market. Moving that inventory or homes and condos is the ultimate goal to get to a ‘balanced’ inventory market between sellers and buyers. Here are the North Kingstown real estate stats, as follows:
North Kingstown Single family homes sold 1st quarter 2011 (January 1- March 31, 2011): 45
Average Sale Price: $278,326
Sold at 92% of list price
Days on Market: 98
Median Sales Price: $235,000
Sold at 93% of list price
Days on Market: 92
North Kingstown Single family homes sold 1st quarter 2012 (January 1- March 31, 2012): 49
Average Sale Price: $381,725
Sold at 94% of list price
Days on Market: 101
Median Sales Price: $250,000
Sold at 95% of list price
Days on Market: 85
North Kingstown Condos sold 1st quarter 2011 (January 1- March 31, 2011): 6
Average Sale Price: $168,516
Sold at 99% of list price
Days on Market: 47
Median Sales Price: $167,950
Sold at 100% of list price
Days on Market: 0
Note: new condo complex with 1 level living skewed sales since listings were never truly on the market.
North Kingstown Condos sold 1st quarter 2012 (January 1- March 31, 2012): 5
Average Sale Price: $215,200
Sold at 96% of list price
Days on Market: 181
Median Sales Price: $175,000
Sold at 96% of list price
Days on Market: 191
Overall this is good news for the Rhode Island real estate market and buyers need to be on their toes to be ready, willing and able to put an offer in quickly on some hot properties. I am continuing to see homes go into agreement in less than 2 weeks in many cases.
Working with a North Kingstown real estate agent that knows the local real estate market, prices and negotiates well for clients is the goal for buyers and sellers now.
North Kingstown RI 02852 – Real Estate Market Report- First Quarter 2012.
Ginny Lacey Gorman is your go to North Kingstown real estate agent for real estate in North Kingstown RI and beyond…knowing the geographic area, schools, happenings, important tidbits of information and businesses well.
Waterfront, oceanfront, luxury and coastal RI real estate are my specialty but all of RI is my backyard. When you are in need of a good professional for your buying and selling needs and an internet savvy marketer who sells RI houses in this real estate market – call Ginny at 401.529.7849.
Jayne clements says
Well organize and easy to understand.Great job on this Ginny,You surely own the right crown of the best North Kingstown Short Sale Agent.Best of luck!
Christine Pappas says
Hi Ginny,what an amazing presentation of your market report.Definitely easy to understand and well organized.Great job and stay the best NorthKingstown Short Sale Agent.
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