South Kingstown Real Estate Market Update December 2016

What is the Housing Update in South Kingstown RI

 in December?

 

The South Kingstown real estate market December 2016 home sales for single family homes increased slightly this month over last month.   South Kingstown home sales have been moderately strong this year.

 

 

This is a stable RI home sale market where the key to home sales is pricing well.  The increase in home sales this year shows that the market is in full swing with home inventory needed 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 December 2016 follows:

 

• Properties currently active on the market: 119 (24% decrease over prior month)
  
• Single-family properties closed in the month: 28 (12% increase over prior month)
• Average sales price: $ 363,000 
• Median sales  price: $ 315,000
• Sales price to list price ratio: 96% ( 94% in the prior month)
• Average days on the market: 88 (99 days in the prior month) 
• Sales currently pending: 28 ( 19% decrease over prior month)

 

• South Kingstown home absorption rate indicates it is a sellers 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.

 

• Breakdown of the 28 South Kingstown sold homes is as follows for the month: 11 homes sold under $300,000, 6 homes sold between $300,000-$400,000, 11 homes sold for more than $400,000 but less than a million and no home sold over $1 million.  The strongest selling real estate market is the under $300,000 and over $400,000 in South Kingstown this month.  

 

• The average square foot sales price of a home sold this year in South Kingstown is $ 219 per square foot of living space.

 

• The highest priced home sold this year in South Kingstown coastal RI real estate was $ 1,550,000 in Green Hill.

 

South Kingstown Real Estate Market December 2016

 

 

 

393 homes were sold in South Kingstown this year through December 2016 with an average price sold of $355,000 as compared to 375 homes sold January-December 2015 with an average price of $347,000.  A increase in home sales by 5% and an increase of 2% in home sold values ($355,000 vs. $347,000) year over year.  Additionally the average per square foot cost of a sold home this year is $219 which is equal to 2015.

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.