North Kingstown Real Estate Market March 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 March recapped 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 42% and pending home sales are up by 5%.
North Kingstown single home sales number of home solds are 2% higher for 2022 so far compared to the first three months of 2021 as home inventory continues to be lacking. Yet, in 2022 (January-March) average home sold values are up 14% on average over 2021 (January-March). North Kingstown continues to be one of the sought after towns for RI home buyers. We shall see how home prices go in 2022 but the first three months shows strong buying interest in houses.
What makes North Kingstown the town to move into 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.
An experienced real estate agent does their 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 and condition of home. Hire an in town real estate agent that knows the true home market and will get the highest price for your home.
North Kingstown Homes for Sale and Sold for the Month are as follows:
- Properties currently Active on the market: 26 (8% more homes for sale as prior month)
- 6 homes of the Active homes on the market (of the 26) are in sales agreement already waiting to close
- Single-family properties closed this month: 17 (12 homes sold last month)
- Average sales price: $ 598,000
- Median sales price: $ 579,000
- Sales price to list price ratio: 103% (99% prior month)
- Average days on the market: 24 (28 days prior month also)
- Sales currently pending: 40 (38 homes were in pending the prior month)
- Average above ground square foot cost of a sold home is $310 this year so far. It is a 3 bedroom, 2 bath home with 1800 above ground living space as well.
- The highest price home sold in this town this month was on Forge Road at $1,050,000.
North Kingstown home absorption rate for the month is 1.5 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 17 North Kingstown sold homes is as follows for the month: 2 homes sold under $300,000, 2 homes sold between $300,000-$400,000, 12 homes sold over $400,000 and 1 home 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 Family Home Sale Numbers as of March 2022 Follows
The average North Kingstown home sold so far this year is a 3 bedroom, 2 bath home with an average of 1800 above ground square feet of living space so far this year. The average sold price was $550,000. Single home sales numbers are up 2% for 2022 (55 sales) so far as compared to 2021 (54 sales for January-March). While average home sold price is up 14% on average in the same time period. The median home sold price is up 12% over the same period
The average North Kingstown real estate sale this month takes 24 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/condos 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 market. I live, play and work here and know the southern RI neighborhoods well. Why would you entrust your home to someone who just sells homes and lacks being a true knowledgeable real estate agent? You need defined representation always.
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 March 2022 and always know knowledge means power in real estate.
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.