North Kingstown Single Family Home Sales May 2021 Report
This is the North Kingstown RI single family housing market update for May provided by Ginny Gorman, a top selling RI coastal real estate agent. This is the 2021 real estate home sale market that homeowners and buyers want to know more about as home inentory stays tight.
With the season of buying always here and the Narragansett Bay waters drawing the home buyers into this centrally located RI town let us discuss home sales. This month is showing a increase in home sale closings over the prior month uo by 38% and pending home sales increased over the prior month by 13%.
North Kingstown single average home sold numbers here are 27% lower in January-May 2021 over January-May 2020 as home inventory is low. Yet, this year average home sold values are up 16% in the same time period for the year 2021 over 2020. Five months gives us a better predictor on how home sale prices will be for the rest of 2021. Home inventory is down over 27% compared to 2020. North Kingstown continues to be one of the desirable towns for RI home buyers along with a strongly rated school system.
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 this year so far of North Kingstown home sales. Home inventory is bought up quickly under $450,000. Buyers prefer homes to be updated in order to receive qualified well priced offers. Realize that Zillow (which many homeowners rely on for home estimates) has no idea about the condition or location of your home. An experienced 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 Current Month in 2021 home sale information is as follows:
- Properties currently Active on the market: 44 ( 4% less homes for sale as prior month)
- 12 homes of the Active homes on the market (of the 44) are in sales agreement already waiting to close
- Single-family properties closed this month: 29 (21 homes last month)
- Average sales price: $ 495,000
- Median sales price: $ 449,000
- Sales price to list price ratio: 103% (102% prior month)
- Average days on the market: 30 (25 days prior month also)
- Sales currently pending: 52 (46 homes were in pending the prior month)
- Average per above ground square foot cost of a sold home is $272 this year. It is a 3 bedroom, 2 bath home with 1800 above ground living space as well.
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 an extreme 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 29 North Kingstown sold homes is as follows for the month: 5 homes (3 were manufactured homes) sold under $300,000, 6 homes sold between $300,000-$400,000, 17 homes sold over $400,000 and 1 home sold over $ 1 million. The highest priced home sold for $1,050,000 in the Fletcher Meadows 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 (talk to me about other options here for you). This is because homes to purchase are fewer in many price ranges. Buyers need to really understand what this means. You will be paying market top dollar for homes that are move in ready in the right location. 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 with a lender’s proof of funds letter.
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 May 2021
The average North Kingstown home sold 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 is $484000. Home sales numbers are down 27% for January-May 2021 (104 sales) as compared to January-May 2020 (142 sales). While average home sold prices are up 16% in the same time period.
The average North Kingstown home sale this month takes 30 days from when it came to the market to the ready to close (pending) status.
Buyers are still looking safely for homes to meet their North Kingstown real estate needs.
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 homes for sale under $500,000:
Here are the most current North Kingstown homes for sale over $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 RiByTheBay@gmail.com today for a strong listing Realtor who knows homes well. Doing RI Real estate well for my clients is part of my DNA!
North Kingstown Real Estate Market Single Family Home Sale May 2021 Report
I would love the opportunity to help you list, 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 RiByTheBay@gmail.com.