South Kingstown RI Home Sale Report April 2014
As one of the sought after Rhode Island southern towns for living and enjoyment, the South Kingstown RI home sale market report for single family homes for April 2014 follows.
This month’s real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 249
- Single-family properties closed in April 2014: 13
- Average sales price: $ 379,000
- Median sales price: $ 303,000
- Sales price to list price ratio: 96%
- Average days on the market: 112
- Sales currently pending: 54
South Kingstown home absorption rate: over a one year of home inventory and it is still a buyers market. There still is a considerable amount of homes on the market for home buyers to choose from.
Home absorption is the amount of time it will take to sell all the homes currently on the market.
- Breakdown of the 13 South Kingstown sold homes is as follows for the month of April: 5 homes sold under $300,000 and 8 homes sold between $300,000-$400,000. The under $400,000 home market was the strongest buyers interest in home sales in the past month.
The spring market has shaken off the winter doldrums but paused this month with a 24% drop in home sales over the prior month. Home sales April 2014 are down 6% over April 2013 yet home prices are up 5% over the same period. So there is a mix of positive and negative signs here but having home prices increase is great for home sellers.
I hope that this South Kingstown Year April 2014 home sales report gives you the guidance in this real estate market for the coming year.