South Kingstown RI Home Sale Report May 2014

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South Kingstown RI Home Sale Report May 2014

 

As one of the sought after Rhode Island southern coastal towns for living and enjoyment, the South Kingstown RI home sale report for single family homes for May 2014 follows.  What a remarkable surge in home buying activity there was with real estate sales up 138% from the prior month!  Not your typical May housing market for sure.

South Kingstown RI Home Sale Report May 2014

                                                                          Oceanfront South Kingstown RI

This month’s real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate:

  • Properties currently active on the market: 280 ( 12% increase over prior month)
  • Single-family properties closed in May 2014: 31 (138% increase over prior month)
  • Average sales price: $ 341,000 (10% decrease in price over prior month)
  • Median sales  price: $283,000 ( 6% decrease in price over prior month)
  • Sales price to list price ratio: 94% ( prior month was 96%)
  • Average days on the market: 121 (8% increase in days on market over prior month)
  • Sales currently pending: 48 (11% decrease over prior month)

  • South Kingstown home absorption rate indicates 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 31 South Kingstown sold homes is as follows for the month of May: 16 homes sold under $300,000, 9 homes sold between $300,000-$400,000, 5 homes sold for more than $400,000 but less than a million and one home sold for over $1 million.  The under $300,000 home market was the strongest buyers interest in home sales in the past month.
South Kingstown RI Home Sale Report May 2014 gives the home buyer the information they need to make a qualified purchase.  Home sellers need to be very aware of pricing and their competition in the market now.

 The summer market is hot with a 138% increase in home sales over the prior month.  Home sales for May 2014 are up 9% over May 2013 and home prices are up 5% over the same period.  South Kingstown is showing a stellar upward real estate trend.

 

 Take a look at the hottest South Kingstown homes for sale right here and now.  As current as you can get!

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, the Amtrak train station in Kingston and good public & private schools.  And yes the great ocean is here with our phenomenal beaches!   This is all a great draw when put together for the South Kingstown home buyer.

Recent South Kingstown Home Sale Reports:

South Kingstown Home Sale Report April 2014

I hope that this South Kingstown May 2014 home sales report gives you the guidance in this real estate market for the coming year.

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 Ginny Lacey Gorman is your go to South Kingstown Rhode Island waterfront agent for real estate in RI and beyond…knowing the geographic area, schools, happenings and important tidbits of local information. Ginny raised her family here, played here and knows the South Kingstown neighborhoods and town well. Email her at Ginny@RiHouseHunt.com to discuss your home dreams too!
 
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this real estate market, call Ginny at 401.529.7849.