North Kingstown Home Sales for Sale in August
This is the North Kingstown RI single family housing market update for August 2018 and provided by Ginny Gorman, a top selling southern RI real estate agent. This is the 2018 real estate home sale market and all homeowners and buyers want to know how pricing and home inventory is proceeding so far this year.
With the end of summer season is upon us and the Narragansett Bay waters draw the home buyers into this southern and centrally located RI town. This month is showing a major increase in home sales over the prior month by 22% and pending home sales have decreased over the prior month by 28%. North Kingstown Home sold values here are up by 7% through August 2018 this year and home sale sold numbers are down 7% over the same period in the prior year. Due to the decreased number of homes for sale that are affordable or available to buyers home sold numbers are down this year. This shortage of homes for sale is expected to continue through 2018. North Kingstown is one of the ‘desirable’ towns for suburban southern RI home buyers to move to.
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 and great real estate that 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 an added bonus to all who live here. There is a suburban living environment here with the salt water close at hand that is so important to buyers.
Let us look at the first eight months of home sales in 2018 in North Kingstown. Home inventory is bought up quickly under $500,000. Yet only when there is little work to improve on its ‘look’ and bones of a home. Buyers prefer homes to be updated and move in ready in order to receive qualified well priced offers. It does not matter what you have spent of your house over the years but what the real estate market ‘says’ it is worth is the reality sellers need to understand. A well qualified real estate agent does their due diligence to analyze and share comparable sold homes with sellers so a potential seller knows the expected sold price.
North Kingstown Real Estate August 2018 home sale information is as follows:
- Properties currently Active on the market: 130 (10% decrease of homes for sale over prior month)
- 21 homes of the Active homes on the market (of the 130) are in sales agreement already waiting to close
- Single-family properties closed this month: 44 ( 36 sold in the prior month)
- Average sales price: $426,000
- Median sales price: $ 434,000
- Sales price to list price ratio: 96% (97% prior month)
- Average days on the market: 39 (47 days prior month also)
- Sales currently pending: 18 (25 homes were in pending the prior month)
- Average per square foot cost of a sold home is $227 so far this year.
North Kingstown home absorption rate for the month is 3 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 44 North Kingstown sold homes is as follows for the month: 11 homes sold under $300,000, 9 homes sold between $300,000-$400,000, 24 homes sold over $400,000 and 0 homes sold over $ 1 million. The highest priced home sold is in the Quail Hollow neighborhood .
As an update and side note to this North Kingstown home sale market it is apparent that sellers are not willing to place their homes on the market until they identify a home they wish to purchase. This is because homes are ‘scarce’ in so many price ranges. Buyers need to really understand what this means. You will be paying top dollar for homes that are move in ready in the right location and at market price. Make sure you work with a real estate agent who knows the market and can negotiate well for you. You need to be first in line when a home comes on the market now.
My successful Video Strategic Marketing and consistent on line marketing increases home sales in North Kingstown and all or RI for home 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 Home Sale Statistics as of August 2018
The average North Kingstown home sold in August was a 4 bedroom, 2 bath home with an average of 1900 above ground square feet of living space.
The average home sale this month closed in 39 days it was on the market and the price per above ground square foot is $221. For the 2018 year so far the average sold per square foot cost of a home is $227.
Looking for North Kingstown homes for sale? Or perhaps you are considering relocating to North Kingstown? Click the highlighted links to explore the right RI reasons to buy in North Kingstown and one of the many desirable neighborhoods here.
Looking for the newest homes and condos in North Kingstown? This is 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 real estate guidance and strategic negotiation skills for clients who hire me and I represent you unlike the sellers’ agent.
Here are the most current North Kingstown home inventory for sale under $500,000:
Finding the most knowledgeable information for this town when you are home buying or selling is essential. 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 like the back of my hand. Why would you entrust your home to someone to sell who is not a true North Kingstown specialist? Reach me, Ginny Gorman, at 401.529.7849 or at ginny@RIHouseHunt.com today.
North Kingstown Real Estate Market August 2018 Recap
I would love the opportunity to help you market and sell your home for the right price and earn your trust. I am a totally ‘hands on’ top selling North Kingstown RI coastal and luxury 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 ginny@RiHouseHunt.com.