South Kingstown RI Real Estate Market October 2015
The South Kingstown RI real estate report for single family homes showed an increase in home sales by 27% over the prior month. Single family homes sold here have shown a 2% increase in home sales and a 2% increase in sold home values January 2015- October 2015 compared to the real estate statistics for January 2014- October 2014. It is still a strong RI real estate market here where the key to home sales is pricing well to what the market says a home is worth. This uptick shows that the fall market is a great time for home sellers to have their home on the market for sale.
This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate.
Housing update for South Kingstown RI for October 2015:
- Properties currently active on the market: 240 ( 11% decrease over prior month)
- Single-family properties closed in the month: 38 (27% increase over prior month)
- Average sales price: $ 333,000
- Median sales price: $305,000
- Sales price to list price ratio: 96% ( 96% in the prior month)
- Average days on the market: 107 (increased by 44 days)
- Sales currently pending: 42 (35% increase over prior month)
- South Kingstown home absorption rate indicates a balanced market with 6.5 months worth of home inventory. Home absorption is the amount of time it will take to sell all the homes currently on the market without adding to it. If sales continue this way a balanced real estate market here will remain.
- Breakdown of the 38 South Kingstown sold homes is as follows for the month: 18 homes sold under $300,000, 10 homes sold between $300,000-$400,000, 9 homes sold for more than $400,000 but less than a million and 1 home sold over $1 million. The under $400,000 home market continues to be the strongest market for real estate continually.
- The average square foot sales price of a home sold this year in South Kingstown is $215/sq.ft. through October 2015. A slight decrease from 2014.
The highest priced home sold this month here was $1,150,000 and located in the Green Hill neighborhood with fabulous ocean views. This house was sold as cash.
306 homes were sold in South Kingstown from January-October 2015 with an average price sold of $344,000 as compared to 299 homes sold in town from January-October 2014 with an average price of $337,000.
South Kingstown RI Real Estate Market Report October 2015 update gives home buyers and sellers the information they need to make a qualified real estate decision. Having a good overview of the RI real estate home sales in the town you are interested in buying into is an important step in making that home offer.
Home sellers need to be very aware of pricing and their competition in the real estate market now…understand the secret sauce of pricing a home and talk with an internet savvy South Kingstown real estate agent about marketing. Ensuring a targeted marketing plan to home buyers online is an essential part of my RI real estate marketing including great photography.
Take a look at the hottest South Kingstown homes for sale right here and now. As current as you can get everyday with the best and most thorough Rhode Island real estate information provided to the consumer.
Get the latest and most current South Kingstown homes for sale right here between $200,000-$600,000:
I hope that this South Kingstown real estate current update gives you information and knowledge in this home sale 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. Knowing the septic changes in the Critical Resource Areas or flood zones in South Kingstown ensures when you work with me that you will know your costs well when home buying or selling.
Being a local South Kingstown real estate agent, having lived in this community for years and raising my family here keeps me in touch with this community well. Call me, Ginny Gorman, at 401.529.7849 or email me at ginny@RiHouseHunt.com for the guidance you need in selling South Kingstown RI real estate.
South Kingstown RI Real Estate Report October 2015