South Kingstown Real Estate Market May 2023 Report
Find the Best Buys for South Kingstown Homes and Condos Here
The South Kingstown homes sold market in May 2023 for single family homes increased this month over last month by 13%. Pending home sales are 33% higher than the prior month. This month’s South Kingstown real estate report is provided & compiled by Ginny Lacey Gorman of RI coastal real estate.
The Current Housing update for South Kingstown follows:
- Properties currently active on the market: 51 of these homes on the market (8 of these homes are already in sales agreement awaiting closing).
- Single-family properties closed in the month: 18 (2 more than the prior month)
- Average sales price: $ 651,000
- Median sales price: $ 565,000
- Sales price to list price ratio: 101% (99% last month)
- Average days on the market: 39 (17 days last month)
- Sales currently pending: 28 (21 homes pending last month)
- The $442 is the average (median is $371) above ground per square foot cost this year in a South Kingstown sold home.
- The average sold home is a 3 bedroom, 2 bath home with 1600 square feet of living space this year.
South Kingstown home absorption rate indicates it is a sellers home market with 2.8 months of home inventory.
- Breakdown of the 18 South Kingstown sold homes is as follows for the month: 0 home sold under $300,000, 3 home sold between $300,000-$400,000, 13 homes sold for more than $400,000 but less than a million and 2 homes sold over $1 million.
- The highest priced home sold this month in South Kingstown coastal RI real estate is $1,150,000 in Green Hill.
In January-May 2023 South Kingstown home sold prices ($616,000 on average and the median price is $532,000) are down by 9% (median home sold price is down 7% over January-May 2022). So far this year 2023 has 43% fewer homes sold over January-May 2022 due to decreased home inventory. The average home sold here is a 3 bedrooms, 2 baths and 1600 of above ground square feet. The average above ground square foot cost for a sold home here so far in 2023 is $442 (median cost $371 per square foot).
2023 may continue to have fewer homes for sale as home prices and mortgage rates adjust.
Here are the most current and up to date South Kingstown homes for sale under $600,000:
Here are the most current and up to date South Kingstown homes for sale over $600,000:
Get to know one of the newest South Kingstown condo complexes built near the shore called South Shore Village off Shannock Road. The new South Shore Village condos near the South Kingstown and Charlestown beaches may be what you are looking for with all the amenities offered. It is a 55+ community and all condo units are standalone homes on one level with full basements. It is a large complex that offers salt water pools, walking trails, workout center, club house & a golf course and more.
A Buyer’s Agent is Needed by a Buyer when Buying a Home
Use a buyer representative other than the builder’s representative when purchasing a new construction condo or a home especially. You want a buyer’s agent who protects you from unnecessary fees and/or upgrades that add to your final home cost. Call me, Ginny Gorman, as your Buyer’s real estate agent when looking here in RI. It costs you nothing as a buyer and I protect your home buying interests always.
Know Ginny Gorman lists and sells South Kingstown homes with Trust and Integrity
If you are thinking of selling your home, land or condo, please call me, Ginny Gorman, for your home market analysis at 401.529.7849. My RI real estate coastal neighborhood town knowledge sells homes by attracting buyers with my online presence again and again.
Entrust your home to a South Kingstown specialist and a top selling real estate agent like Ginny Gorman is the smart avenue. Reach out to me, Ginny Gorman, at 401.529.7849 or at RiByTheBay@gmail.com today. It’s the nooks and crannies of RI places that motivate me too to help you reach your home goal!
Real estate is my passion…marketing is my business…and is in my DNA!
South Kingstown Home Sales for May Report 2023 is real estate information RI sellers and buyers need.
I would love the opportunity to help you market, sell your home for the best price and earn your trust. I am a totally ‘hands on’ selling South Kingstown RI coastal real estate agent leaving no home unknown for my southern RI buyers and sellers! My state of the art marketing sells home well. Always contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at RiByTheBay@gmail.com.