North Kingstown RI Real Estate Market July 2014
This North Kingstown RI single family real estate market data update for July 2014 is provided by Ginny Lacey Gorman of RI coastal real estate. The summer real estate market has maintained its sales numbers by being equal to June. Year to date home sales here are still down 5% over 2013 through July but home values are up by +4% during the same time period.
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.
The month of July home sales data are as follows:
- Properties currently active on the market: 212 (3% increase over prior month)
- Single-family properties closed in July: 35 (same as prior month)
- Average sales price: $ 307,000
- Median sales price: $ 271,000
- Sales price to list price ratio: 96%
- Average days on the market: 89
- Sales currently pending: 35 (same as prior month)
North Kingstown home absorption rate for July is 6.0 months of home inventory (a normal market would be 5-7 months of inventory and considered a balanced market). The home inventory has increased very little and home sales have remained steady this summer. Based on this most recent home sales data, the North Kingstown real estate market is a balanced 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 35 North Kingstown sold homes is as follows for the month: 21 homes sold under $300,000, 3 homes sold between $300,000-$400,000, 10 homes sold over $400,000 and 1 home sold over $1 million. The under $300,000 market remains the strongest selling market in home sales in July. However, the uptick in the over $400,000 home market shows that home owners are ‘buying up’ again in North Kingstown.
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North Kingstown RI Real Estate Market July 2014
The North Kingstown RI July 2014 home market is a viable and active RI real estate market. Know the secret sauce to pricing your home to get it sold today!
Stabilization of home prices and a better list price to home sale price ratio are important factors in an improving real estate market. That is what we evaluate in this home sales market as we move through the summer season.
North Kingstown Home sales January – July 2014 compared to January – July 2013 shows a 5% decline in home sales and a 4% (from $319,000 to $333,000) increase in home prices. This is a slight retrenchment for home sellers here…this decrease in home prices is due in part to the past winter slowdown in home sales. Yet, home values have risen mainly due to the over $400,000 homes selling better this year than last.
Looking for North Kingstown homes for sale? Or perhaps you are considering relocating to North Kingstown? Click the highlighted links and explore the right southern RI reasons to buy here.
Recent North Kingstown recent past real estate reports follow:
North Kingstown RI Real Estate Report June 2014
North Kingstown RI Real Estate Report May 2014
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 RI real estate agent leaving no stone unturned for my buyers and sellers!
Contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at ginny@RiHouseHunt.com. Working with home sellers everyday to list, promote and market homes successfully for clients. I live, work and play in North Kingstown and know this town like the back of my hand. Hope you found the single family North Kingstown RI Real Estate Market Report July 2014 more than a good read and the right information to take forward.
Here are some of the latest homes for sale in North Kingstown from $250,000 to $500,000:
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North Kingstown RI Real Estate Market July 2014
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