South Kingstown RI Real Estate Homes for Sale January 2017 Update

What is the Housing Update in South Kingstown RI

 in January?

 

The South Kingstown real estate market January 2017 home sales for single family homes decreased this month over last month.   South Kingstown home sales are just starting in the new year.

 

 

This is a stable RI home sale market (with a slight drop during the winter months)  where the key to home sales is pricing well.  No increase in home sales this year over the prior month in full swing with home inventory needed for buyers.

 

This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of coastal RI real estate.  

The Current Housing update for South Kingstown RI for January 2017 follows:

 

• Properties currently active on the market: 129 (8% increase over prior month)
  
• Single-family properties closed in the month: 24 (14% decrease over prior month)
• Average sales price: $ 307,000 
• Median sales  price: $ 315,000 (same as last month)
• Sales price to list price ratio: 94% ( 96% in the prior month)
• Average days on the market: 91 (88 days in the prior month) 
• Sales currently pending: 2 ( 93% decrease over prior month)

 

• South Kingstown home absorption rate indicates it is a sellers market with current inventory.  Home absorption is the amount of time it will take to sell all the homes currently on the market without adding to it.  Homes are closing in 3 months (from listing to closing on the home).

 

• Breakdown of the 24 South Kingstown sold homes is as follows for the month: 12 homes sold under $300,000, 7 homes sold between $300,000-$400,000, 5 homes sold for more than $400,000 but less than a million and no home sold over $1 million.  The strongest selling real estate market is the under $300,000 and over $400,000 in South Kingstown this month.  

 

• The average square foot sales price of a home sold this month in South Kingstown is $ 232 per square foot of living space.

 

• The highest priced home sold this year in South Kingstown coastal RI real estate was $ 675,000 in Snug Harbor.

 

South Kingstown Real Estate Market January 2017

 

 

24 homes were sold in South Kingstown this month in 2017 with an average price sold of $307,000 as compared to 24 homes sold January 2016 with an average price of $387,000.  An equal number in home sales and an decrease in home sold values ($307,000 vs. $387,000) year over year for just a month comparison (not enough of a statistical value.  Additionally the average per square foot cost of a sold home this year is $232 which is higher than 2016 (it was $219 for the year).

If you are thinking of selling your home or condo there is no time to wait, please call me, Ginny Gorman, for your home market analysis and best marketing tips today at 401.529.7849.  My neighborhood town knowledge sells homes by attracting buyers with my online presence again and again.