South Kingstown RI Home Sale Report March 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 March 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: 234
- Single-family properties closed in March 2014: 17
- Average sales price: $ 394,000
- Median sales price: $ 348,000
- Sales price to list price ratio: 95%
- Average days on the market: 151
- Sales currently pending: 26
South Kingstown home absorption rate: over a one year of home inventory and it is still a strong 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 17 South Kingstown sold homes is as follows for the month of March: 7 homes sold under $300,000, 6 homes sold between $300,000-$400,000, 3 homes sold over $400,000 and 1 home over $1 million. The under $300,000 home market showed buyers interest for home sales in the past month.
Given the wintry weather, a 15% increase in home sale prices and number of home sales were up 13% over the prior month. Home sales March 2014 are down 23% over March 2013. So there is some pull back in this home market.
I hope that this South Kingstown Year March 2014 home sales report gives you the guidance in this real estate market for the coming year.