North Kingstown Real Estate Market October 2022 Update
Find the Best Homes and Condos for Sale in North Kingstown Here
This is the North Kingstown RI single family home sales market update for October 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 7% and pending home sales are down by 21%.
North Kingstown single home sales number of are 3% more in 2022 so far this year compared to the first ten months of 2021. Yet, in 2022 (January-October) average home sold prices are up 18% on average over 2021 (January-October). The median home sold price change in the same period is up 11%. 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 which draws home buyers in. North Kingstown is geographically in the center of Rhode Island coastal real estate state which makes commuting to Providence or south via Routes 1, 4 and 95 easy.
Home inventory is bought up quickly under $500,000. Buyers prefer homes to be updated in order for sellers to receive well priced offers. Know that Zillow (which many homeowners and buyers rely on for home estimates) has no idea about the condition or location of your home when coming up with their 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 and develops a solid marketing plan. It is all based upon comparable active, pending and sold homes. In addition, the location, condition of home and knowing the community is essential. It is important to hire a local agent that knows the home market. This is the business I am committed to everyday for clients.
North Kingstown Statistics Home Sellers Need to Know:
- Properties currently Active on the market: 43 (10% less homes for sale as prior month)
- 12 homes of the Active homes on the market (of the 43) are in sales agreement already waiting to close
- Single-family properties closed this month: 29 (27 homes sold last month)
- Average sales price: $ 563,000
- Median sales price: $ 570,000
- Sales price to list price ratio: 101% (99% prior month)
- Average days on the market: 40 (32 days prior month also)
- Sales currently pending: 27 (34 homes were in pending the prior month)
- Average above ground square foot cost of a sold home is $337 this year so far. It is a 3 bedroom, 2 bath home with 2000 above ground living space as well.
- The highest price home sold in town this month was $1,050,00 in the Plum Beach neighborhood.
North Kingstown home absorption rate for the month is 1.5 months of home inventory. Based on most recent home sales, 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.
- Breakdown of the 29 North Kingstown sold homes is as follows for the month: 3 homes sold under $300,000, 3 homes sold between $300,000-$400,000, 22 homes sold over $400,000 and 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 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 all vistas determines what is the best eye candy for home buyers.
North Kingstown Single Family Home Sale Numbers as of October 2022 are as follows:
The average North Kingstown home sold so far this year is a 3 bedroom, 2 bath home with an average of 2000 above ground square feet of living space. The average sold price is $652,000 (the median price is $580,000). Single home sales numbers up in 2022 (277 sales) so far as compared to 2021 (268 sales for January-October). While the 2022 average home sold price is up 18% on average in the same time period. The median home sold price is up 11% over the same time period.
Perhaps you are considering relocating to North Kingstown? Click the highlighted link to explore the right RI reasons to buy in North Kingstown.
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. Always require 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 Home Sale Update for October 2022 to keep you in the know.
I would like the opportunity to help you list, market and sell your home for the highest price and earn your trust. Ginny Gorman is a totally ‘hands on’ top selling North Kingstown RI coastal real estate agent leaving no home behind for 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!