South Kingstown RI December 2013 Year End Market Report
As one of the premier South County communities for living and enjoyment, South Kingstown RI
real estate market data for December 2013 ( data for the full calendar year will follow farther down in post) is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 197
- Single-family properties closed in December 2013: 23
Thinking of selling this spring? Call me at 401-529-7849 to find out what your home is Truly worth!
- Average sales price: $ 322,000
- Median sales price: $325,000
- Sales price to list price ratio: 96%
- Average days on the market: 159
- Sales currently pending: 36
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South Kingstown home absorption rate: 8.5 months of home inventory and is a buyers market. There still is a considerable amount of homes on the market here even though the home sales have been brisk this past year.
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 home market.
- Breakdown of South Kingstown sold homes is as follows for the month of December: 10 homes sold under $300,000, 9 homes sold between $300,000-$400,000 and 4 homes sold over $400,000. The under $300,000 market is continuing to be the strongest market in South Kingstown home sales.
South Kingstown RI December 2013 Year End Market Report
The South Kingstown RI home real estate market has been a strong selling market
all year with number of home sales up 11% over 2012 for 2013! Home prices have increased year to date for 2013 over 2012 by +.003%.
Although the sales price increase in 2013 was negligible, 2012 had a larger price increase. South Kingstown has been a very strong town in the improving RI real estate market.
Year Homes Sold Average Sales Price List Price/Sale Price Days on Market
| 2011 | 256 | $ 314,424 | 93% | 127 |
| 2012 | 305 | $ 331,634 | 94% | 127 |
| 2013 | 338 | $ 333,000 | 95% | 123 |
Interesting that even with the home price increase in sold homes, the number of Days on Market for a home until agreement stayed fairly constant year over year. A better List Price of homes sold to Sale price crept upwards. So for 2013 there was a 11% increase in home sales over 2012 and just a .003% increase in home sale price.
The South Kingstown community is a waterfront South County community that is fortunate to have the University of
Rhode Island campus in its borders, cultural music and theater, notable restaurants, Amtrak train station in Kingston and good schools. This is all a great draw when put together for the searching South Kingstown home buyer.
If you would like to buy a South Kingstown RI home or interested in selling, contact Ginny Lacey Gorman today at 401.529.7849 or email me at Ginny@RiHouseHunt.com.
I hope that this South Kingstown Year end and December 2013 home sales report gives you some guidance in the market for the coming year.
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