South Kingstown Real Estate Market October 2016 Update

What is the Housing Update in South Kingstown RI

 in October?

 

The South Kingstown real estate market October 2016 for single family homes decreased this month in home sales over the prior month.   Yet, South Kingstown home sales have had a good run for sellers so far this year.

 

 

This is a stable RI home sale market where the key to home sales is pricing well.  The increase in home sales thus year shows that the market is in full swing with home inventory in need for buyers.

 

This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of coastal RI real estate.  

The Current Housing update for South Kingstown RI for October 2016 follows:

• Properties currently active on the market: 181 (3% decrease over prior month)
  
• Single-family properties closed in the month: 29 (19% decrease over prior month)
• Average sales price: $ 373,000 
• Median sales  price: $ 299,000
• Sales price to list price ratio: 96% ( 95% in the prior month)
• Average days on the market: 116 (104 days in the prior month) 
• Sales currently pending: 26 ( 10% decrease over prior month)

 

• South Kingstown home absorption rate indicates it is a balanced market with current inventory.  Home absorption is the amount of time it will take to sell all the homes currently on the market without adding to it.  If sales continue this way a balanced real estate market here will be continue through fall.

 

• Breakdown of the 29 South Kingstown sold homes is as follows for the month: 15 homes sold under $300,000, 5 homes sold between $300,000-$400,000, 8 homes sold for more than $400,000 but less than a million and 1 home sold over $1 million.  The strongest selling real estate market is the under $300,000 in home sales in South Kingstown.  

 

• The average square foot sales price of a home sold this year in South Kingstown is $ 217 per square foot of living space.

 

• The highest priced home sold this month in South Kingstown coastal RI real estate was $ 1,200,000 here on Moonstone Beach Road.

 

South Kingstown Real Estate Market October 2016

 

 

 

340 homes were sold in South Kingstown this year through October 2016 with an average price sold of $353,000 as compared to 308 homes sold January-October 2015 with an average price of $344,000.  A increase in home sales by 10% and an increase of 3% in home sold values ($353,000 vs. $344,000) year over year so far.

If you are thinking of selling your home or condo there is no time to wait, please call me, Ginny Gorman, for your home market analysis and best marketing tips today at 401.529.7849.  My neighborhood town knowledge sells homes by attracting buyers with my online presence again and again.

 

Finding the most knowledgeable information for this town when you are home buying or selling is essential.  Talk with me, Ginny Gorman, about South Kingstown real estate and what you need to know in this market.  I lived, 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 South Kingstown specialist?  Reach me at 401.529.7849 or at ginny@RIHouseHunt.com today.

 

South Kingstown Real Estate Market Update October 2016

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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 South Kingstown RI coastal and luxury real estate agent leaving no home unknown for my southern RI buyers and sellers!  I have raised my family in this town and know it well.  Always 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 makes my day.  I lived, work and play in South Kingstown and know this town like the back of my hand.    Call on me to guide you well in your real estate search here or to refer you onto a trusted real estate professional in another state.