Home Sales in South Kingstown in October 2017 Update
The South Kingstown real estate market October 2017 home sales for single family homes increased this month over last month by 39%. There is no doubt that the fall home buying market has picked up to be a sellers market at this point in the year. Yet pending home sales have decreased this month to offset the drop in sold homes down by 14%. This is a stable RI home sale market where the key to home sales is pricing well and in move in condition. The home sales this month over the prior month is due to continued demand with home buyers in all price ranges.
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 October 2017 follows:
- Properties currently active on the market: 153 (11% less homes are in sales agreement)
- Single-family properties closed in the month: 39 (39% increase over prior month)
- Average sales price: $ 406,000
- Median sales price: $ 383,000
- Sales price to list price ratio: 94% ( 94% in the prior month)
- Average days on the market: 72 (85 days in the prior month)
- Sales currently pending: 32 (37 homes pending in the prior month)
- The above ground square foot cost this month is $244 in a sold home in South Kingstown.
South Kingstown home absorption rate indicates it is a sellers home market. 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 in pending sales contract awaiting closing in 4 months. The over $400,000 home sale market is the hot buying market right now.
- Breakdown of the 39 South Kingstown sold homes is as follows for the month: 12 homes sold under $300,000, 11 homes sold between $300,000-$400,000, 15 homes sold for more than $400,000 but less than a million and 1 home sold over $1 million.
- The average square foot sales price of a home sold this year in South Kingstown is $ 230 per square foot of above ground living space.
- The highest priced home sold this year in South Kingstown coastal RI real estate was $ 1,080,000 in the Great Salt neighborhood.
South Kingstown Real Estate Market January – October 2017 Recap
324 homes were sold in South Kingstown from January-October 2017 with an average price sold of $383,000 as compared to 340 homes sold January-October 2016 with an average price of $353,000. A decrease in the number of home sales by 5% but home sold values increased by 8% year over year for the first 10 months of the year 2017 in comparison to January-October 2016. It is still a strong real estate market here.
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 RI real estate coastal neighborhood town knowledge sells homes by attracting buyers with my online presence again and again.
This South Kingstown Real Estate Market update gives home buyers and sellers the information they need to make qualified real estate decisions. Having a good overview of the local real estate home sales in the town you are interested in buying into is important.
Here are the most current and up to date South Kingstown homes for sale $600,000 and under:
Finding the most knowledgeable information for this town when you are home buying or selling is essential. Talk with me, Ginny Gorman, about South Kingstown real estate and what you need to know in this market. I lived, raised my family here, work here and know the southern RI neighborhoods like the back of my hand.
Why would you entrust your home to someone to sell who is not a South Kingstown specialist, knows the housing market and is a top selling Realtor? Reach out to me at 401.529.7849 or at ginny@RIHouseHunt.com today.
South Kingstown Homes for Sale Market October 2017 Update
I would love the opportunity to help you market, sell your home for the best price and earn your trust. I am a totally ‘hands on’ selling South Kingstown RI coastal and luxury real estate agent leaving no home unknown for my southern RI buyers and sellers! My state of the art marketing sells home well. I have raised my family in this town and know it so well. Always contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at ginny@RiHouseHunt.com.