South Kingstown RI Home Sale Report September 2014
The South Kingstown RI home sale report for single family homes for September 2014 indicates a 11% decrease in home sale volume over the prior month. The Fall season decrease of sold homes has shown no increase in home sales and home values year over year through September. Interesting since the consumer view is that real estate picked up greatly in 2014 but the data says otherwise here.
This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 262 ( -5% decrease over prior month)
- Single-family properties closed in September 2014: 39 (11% decrease over prior month)
- Average sales price: $ 308,000 ( 7% decrease over prior month)
- Median sales price: $260,000
- Sales price to list price ratio: 95% ( prior month was 94%)
- Average days on the market: 140 (32% increase from prior month)
- Sales currently pending: 54 (-7% decrease over prior month)
South Kingstown home absorption rate indicates it is just barely a balanced real estate market. Home absorption is the amount of time it will take to sell all the homes currently on the market. This is a real estate market that neither favors buyers or sellers.
- Breakdown of the 39 South Kingstown sold homes is as follows for the month: 22 homes sold under $300,000, 10 homes sold between $300,000-$400,000 and 7 homes sold for more than $400,000 but less than a million. No homes sold for $1 million or over this month. The under $300,000 home market continues to be the strongest buyers interest in home sales. Looking at the continued high number of pending homes awaiting closing, this housing market and community is very desirable for all new home buyers to consider.
The fall market has begun with a 11% decrease in home sales over the prior month. Yet, 2014 year to date home sales through September 2014 show just one less sold home over the same time period, year to date, through September 2013. Home prices have decreased by .003% 2014, year to date, as compared to last year through September.
Recent South Kingstown Home Sale Reports:
South Kingstown RI Home Sale Report August 2014
South Kingstown Home Sale Report July 2014
I hope that this South Kingstown September 2014 real estate update gives you the information and guidance in this real estate market for the coming year. As a South Kingstown real estate agent, I work with home buyers and sellers to ensure the best guidance, representation and abilities are used in their real estate negotiations. Call me at 401.529.7849 when you require assistance in your real estate needs.