South Kingstown RI Home Sales | December 2012
Real estate market data for South Kingstown, RI for December and the year is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 191
- Single-family properties closed in December 2012: 24
- Average sales price: $ 411,116
- Median sales price: $325,000
- Sales price to list price ratio: 94%
- Average days on the market: 136
- Sales currently pending: 29
South Kingstown home absorption rate: 6.1 months of home inventory is a balanced market
between buyers and sellers. It has been many years since we have seen this scenario in South Kingstown real estate or any town in Washington County.
Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the home market.
- Breakdown of South Kingstown sold homes is as follows for the month: 10 homes sold under $300,000, 7 homes sold between $300,000-$400,000, 6 homes sold over $400,000 and 1 home over $1 million. The under $300,000 market is continuing to be the strongest market in South Kingstown home sales.
The South Kingstown RI home real estate market has been a strong selling market all year with number of home sales up 19% over 2011 through December 2012! Home prices have increased year to date for 2012 by 5%. South Kingstown has been a very strong town in the improving RI real estate market.
Homes Sold Average Sales Price List Price/Sale Price Days on Market
2011: 256 $ 314,424 93% 127
2012: 305 $ 331,634 94% 127
Interesting that even with the home price increase in sold homes, the number of Days on Market for a home until agreement stayed constant year over year and a better List Price to Sale price.
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. This is all a great draw when put together for the searching South Kingstown home buyer.
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 atRiByTheBay@gmail.com.
South Kingstown RI Home Sales | December 2012.