South Kingstown RI Real Estate Market Summary December 2021

South Kingstown Single Home Sale Market Summary

December 2021

2021 Year End South Kingstown Real Estate Market Report

 
The South Kingstown real estate market December 2021 single family home sales decreased this month over last month by 22%.  Pending home sales were down 33% over the prior month.  This is a southern RI home market where the key to home sales is pricing well, location and the condition of the home.

This month’s South Kingstown real estate report is provided & compiled by Ginny Lacey Gorman of 

RI coastal real estate.  

The Current Housing update for South Kingstown RI follows:

• Properties currently active on the market: 36 of these homes on the market 7 of them are already in sales agreement awaiting commitment letters from the lender.
  
• Single-family properties closed in the month: 29 ( 8 less than the prior month)
• Average sales price: $ 575,000 
• Median sales  price: $ 500,000
• Sales price to list price ratio: 99%  (99% last month)
• Average days on the market: 52  (49 days last month) 
• Sales currently pending: 20 (30 homes pending last month)
• The above ground per square foot cost this year is $353 in a South Kingstown sold home.
• 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 sellers home market with 1.2 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.  It is currently an extreme sellers market.

• Breakdown of the 29 South Kingstown sold homes is as follows for the month: 1 homes sold under $300,000, 4 homes sold between $300,000-$400,000, 21 homes sold for more than $400,000 but less than a million and 3 homes sold over $1 million.
• The highest priced home sold this month in South Kingstown coastal RI real estate was $1,480,000 on Indian Lake.

The South Kingstown single home sales January-December 2021 (346 homes sold) are less than January-December 2020 (401 homes sold) down by 14%. Yet home sold prices, on average, were up by 13% for 2021 over 2020.  The average home sold here this year is a 3 bedroom, 2 baths and 1700 above ground square feet.  The average above ground square foot cost for a sold home here is $353 this year.

Here are the most current and up to date South Kingstown homes for sale over $600,000:

The new South Shore Village condos near the South County beaches may definitely inspire you to buy here with all the amenities offered.  It is a 55+ community and all on one level with full basements.  It is a large complex that offers salt water pools, walking trails, workout center, club house & a golf course (in the works).

Always have a buyer representative other than the builder’s agent when purchasing a condo or a home.  You want someone who protects you from unreasonable fees and/or upgrades that adds to your cost.  Call me, Ginny, as your Buyer’s real estate agent when buying here in RI.  It costs you nothing and I protect your home buying interests always.

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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.  Always contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at RiByTheBay@gmail.com.