North Kingstown Real Estate Market May 2022 Update
Find the Best Homes and Condos in North Kingstown Here
This is the North Kingstown RI single family home sales market update for May recapped and compiled by Ginny Gorman, a top selling North Kingstown real estate agent.
It is always the season of home buying by the Ocean State waters which draws buyers into this centrally located RI town. This month shows an increase in home sales over the prior month by 18% and pending home sales are up by 20%.
North Kingstown single home sales number of home solds are equal to 2022 so far this year compared to the first five months of 2021. Yet, in 2022 (January-May) average home sold values are up 31% on average over 2021 (January-May). Yet, the median price change in the same periods are up 35%. North Kingstown continues to be one of the sought after towns for RI home buyers.
What makes North Kingstown the town to move to and live?
In this southern RI coastal town it is about the community, life style, schools, Wickford Village, Narragansett Bay draws home buyers here. North Kingstown is geographically nearly in the center of Rhode Island coastal real estate which makes commuting to Providence or south via Routes 1, 4 and 95 easy. There is a suburban living environment here with the salt water close at hand.
Home inventory is bought up quickly under $500,000. Buyers prefer homes to be updated in order to receive well priced offers yet location matters as well. Know that Zillow (which many homeowners rely on for home estimates) has no idea about the condition or location of your home when coming up with home estimates.
Know Ginny Gorman Lists and Sells North Kingstown Homes with Trust & Integrity
An experienced North Kingstown real estate agent does a due diligence to analyze and develop a solid marketing plan. It is all based upon comparable active, pending and sold homes as well as location, condition of home and knowing the community. It is essential to hire an in town real estate agent that knows the home market and will get the highest price for your home.
North Kingstown Statistics Home Sellers Need to Know Now:
- Properties currently Active on the market: 52 (108% more homes for sale as prior month)
- 15 homes of the Active homes on the market (of the 52) are in sales agreement already waiting to close
- Single-family properties closed this month: 26 (22 homes sold last month)
- Average sales price: $ 810,000
- Median sales price: $ 665,000
- Sales price to list price ratio: 103% (105% prior month)
- Average days on the market: 25 (27 days prior month also)
- Sales currently pending: 55 (46 homes were in pending the prior month)
- Average above ground square foot cost of a sold home is $326 this year so far. It is a 3 bedroom, 2 bath home with 1900 above ground living space as well.
- The highest price home sold in town this month was $2,750,00 in Wickford Point waterfront.
North Kingstown home absorption rate for the month is 2 months of home inventory (a normal market is 5-7 months of inventory ). Based on this most recent home sales data, the North Kingstown real estate market is in a sellers market.
- 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 current home inventory.
- Breakdown of the 26 North Kingstown sold homes is as follows for the month: 0 home sold under $300,000, 4 homes sold between $300,000-$400,000, 17 homes sold over $400,000 and 5 homes sold over $ 1 million.
Ensure you work with a local real estate agent who knows the market, sells homes and can negotiate well for you. You need to be first in line when a home comes on the market now with a proof of funds letter in your hand to buy.
My successful Video Strategic Marketing and consistent on line marketing increases home sales in North Kingstown and for all RI for sellers. Discover why my state of the art marketing has sold homes with higher prices for my clients more than any other agent. Presenting the home from the air, land or sea determines what is the best eye candy for home buyers.
North Kingstown Single Family Home Sale Numbers as of May 2022 is as Follows:
The average North Kingstown home sold so far this year is a 3 bedroom, 2 bath home with an average of 1900 above ground square feet of living space. The average sold price was $632,000 (the median price is $575,000). Single home sales numbers are the same in 2022 (104 sales) so far as compared to 2021 (104 sales for January-May). While average home sold price is up 31% on average in the same time period. The median home sold price is up 35% over the same time period.
The average North Kingstown real estate sale this month takes 25 days from when it came on the market to pending status.
Perhaps you are considering relocating to North Kingstown? Click the highlighted link to explore the right RI reasons to buy in North Kingstown.
Looking for the newest homes and condos in North Kingstown? These are new construction homes/condos that may be in your price range but vary in availability. Yet, there are resale homes also to consider here. Remember not to go it alone when buying a home. As a buyers’ agent there is no cost for my buyer’s real estate guidance and strategic negotiation skills for clients who hire me.
Here are the most current North Kingstown homes for sale under $500,000:
Here are the most current North Kingstown homes for sale over $500,000:
Talk with me about North Kingstown real estate and what you need to know in this fast paced market. I live, play and work here and know the southern RI neighborhoods well. You need defined representation always whether buying or selling a home.
Reach me, Ginny Gorman, at 401.529.7849 or at RiByTheBay@gmail.com today for a strong listing Realtor who knows, negotiates and sells RI homes with your best interests in mind.
Doing RI Real estate well for my clients is part of my DNA!
This is the North Kingstown Single Family Home Sales Update for May 2022.
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I would like the opportunity to help you list, market and sell your home for the highest price and earn your trust. I am a totally ‘hands on’ top selling North Kingstown RI coastal real estate agent leaving no home behind for my buyers and sellers.
My area is all of Rhode Island in listing guidance, experience in the field and strong negotiating skills working for you. Contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at RiByTheBay@gmail.com. It is good to be known as the Realtor with the Sparkly Red Shoes because there is no place like home!
