South Kingstown RI Home Sale Update May 2013
The South Kingstown RI home sales update for May 2013 is continuing an upward real estate trend. As a choice southern RI town to reside in with Wakefield RI as the town with many villages and hamlets within it. On the Atlantic Ocean it is pure bliss of enjoyment here.
Additionally, South Kingstown waterfront luxury home sales are still plentiful for buyers with cash on hand. It is said you live once so buy the property of the dreams if you find you can afford to. Let us take a look at what the market is doing this month in home sales and contracts….
- Properties currently active on the market: 253
- Single-family properties closed in May: 36
- Average home sales price: $ 327,656
- Median home sales price: $ 298,000
- Home Sales price to list price ratio: 96%
- Average days a home is on the market: 157
- Median days a home is on the market: 97
- Home Sales currently pending: 57
South Kingstown RI home sales has a 7 month home absorption rate which is a huge improvement to less of a buyers real estate market. It is moving towards a balanced market.
- The number of days a home is on the real estate market prior to going into pending status is just over 5 months. What does this mean for home sellers? Sellers are pricing their homes higher than the real estate market can bear. Price to the market and you as a seller will sell your home faster and at the market price (which you ultimately otherwise wait 5+ months to get a price that you have probably lowered it)
- A breakdown of the 36 South Kingstown RI home sales for May is as follows for the month: 18 homes sold under $300,000, 11 homes sold between $300,000-$400,000 and 7 homes over $400,000. The under $300,000 market is continuing to be the strongest market in South Kingstown RI real estate.
Active homes on the market increased by 14% over the prior month, pending sales were up by 19% and home sales increased by 64% over the prior month. However, home sales in May 2013 are up by 44% over May 2012!
South Kingstown RI Home Sales Update May 2013
The South Kingstown community is a waterfront South County community that is fortunate to have the University of Rhode Island campus
in its borders, cultural music and theater, notable restaurants and good schools. Being a coastal RI town offers great beaches to all its residents whether private, town or state beaches.
If you would like to buy a South Kingstown RI home or interested in selling, contact Ginny Lacey Gorman today at 401.529.7849 or email me at RiByTheBay@gmail.com.
South Kingstown Home Sales Update May 2013.
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