South Kingstown RI Real Estate Market September 2019 Update

South Kingstown Homes for Sale in September 2019

 

The South Kingstown real estate market September 2019 home sales for single family homes increased this month over last month by 3%.  All home price ranges are the most sought after home market right now. Pending home sales increased by 4% this month over last month.  This is a consistent southern RI home sale market where the key to home sales is pricing well and the condition of the home.

 

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 September 2019 follows:

• Properties currently active on the market: 152 (1 home more than prior month) of these homes on the market 35 of them are already in sales agreement awaiting commitment letters from the lender.
  
• Single-family properties closed in the month: 34 (1 more than the prior month)
• Average sales price: $ 471,000 
• Median sales  price: $ 412,000
• Sales price to list price ratio: 122% ! ( 96% last month)
• Average days on the market: 53 (76 days last month) 
• Sales currently pending: 26 (25 homes pending last month)
• The above ground per square foot cost this year is $260 in a South Kingstown sold home so far.
• The average sold home is a 3 bedroom, 2 bath home with 1700 square feet of living space this year.

South Kingstown home absorption rate indicates it is a balanced home market with just under 5 months 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.

• Breakdown of the 34 South Kingstown sold homes is as follows for the month: 4 homes sold under $300,000, 10 homes sold between $300,000-$400,000, 20 homes sold for more than $400,000 but less than a million and 0 home sold over $1 million.
• The highest priced home sold this month in South Kingstown coastal RI real estate was $980,000 in the Wood Hollow neighborhood.

The South Kingstown home sales in January- September 2019 (288 homes sold) are down 4% over January-September 2018 (301 homes sold) and single family home sold prices are up by 2%  ($422,000 so far in 2019 vs. $415,000 in January-September 2018).  The average home sold this year was a 3 bedroom, 2 baths and 1700 above ground square feet 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.