How Are South Kingstown Home Sales in February 2014?
As one of the sought after Rhode Island southern communities for living and enjoyment, South Kingstown RI real estate market report data for single family homes for February 2014
is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 203
- Single-family properties closed in February 2014: 15
- Average sales price: $ 342,000
- Median sales price: $ 323,000
- Sales price to list price ratio: 95%
- Average days on the market: 92
- Sales currently pending: 28
South Kingstown home absorption rate: 13+ months of home inventory and it is strong buyers market. There still is a considerable amount of homes on the market here even though the home sales have been brisk in the past year.
Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the home market.
- Breakdown of the 15 South Kingstown sold homes is as follows for the month of February: 5 homes sold under $300,000, 5 homes sold between $300,000-$400,000 and 5 homes sold over $400,000. Every price range showed buyers interest for home sales in the past month.
Although a negligible South Kingstown home sales price increase occurred in 2013 over 2012, it still indicates a positive return for buyers going forward in 2014.
Given the wintry weather, a 15% drop in home sale prices and number of home sales were down 25% over the prior month. Home sales this month are up 7% over February 2013.
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. This is all a great draw when put together for the South Kingstown home buyer.
I hope that this South Kingstown Year February 2014 home sales report gives you the guidance in this real estate market for the coming year.