North Kingstown Real Estate Market February 2023 Report
Find the Best Homes and Condos for Sale in North Kingstown Here
This is the North Kingstown single family home sales market update for February 2023 in this report. This update is recapped and compiled by Ginny Gorman, a top selling North Kingstown and RI coastal real estate agent.
It is the season of home buying by the Ocean State waters which draw buyers into this centrally located RI town. This month shows an increase in home sales over the prior month by 27% and pending home sales are down by 18%.
Let us look at the North Kingstown Home Sales in 2022 as compared to Home Sales in 2021, as follows:
North Kingstown single home sale numbers are 3% less in 2022 compared to 2021. Yet, in the year 2022 average home sold prices are up 13% on average over 2021. The median home sold price change in the same period increased by 8%. This is an annual year comparison of homes sold here. North Kingstown continues to be one of the sought after towns for RI home buyers. Sales are strong in 2023 so far but with a lower available home inventory.
In this southern RI coastal town it is about the community, life style, schools, Wickford Village, Narragansett Bay which draws home buyers in. North Kingstown is geographically in the center of Rhode Island coastal real estate state which makes commuting to Providence or south via Routes 1, 4 and 95 easy.
Home inventory is bought up quickly under $500,000. Buyers prefer homes to be updated in order for sellers to receive well priced offers. Know that Zillow has no idea about the condition or location of your home in their home pricing estimates.
Know Ginny Gorman Lists and Sells North Kingstown Homes with Trust & Integrity
An experienced North Kingstown real estate agent does a due diligence and develops a solid marketing plan. It is all based upon comparable active, pending and sold homes. In addition, the location, condition of home and knowing the community is essential. It is important to hire a knowledgeable selling real estate agent that knows the home market. This is the business I am committed to everyday for clients.
North Kingstown Statistics February 2023 Home Sellers Need to Know are as follows:
- Properties currently Active on the market: 28 (6% more homes for sale as prior month)
- 5 homes of the Active homes on the market (of the 28) are in sales agreement already waiting to close
- Single-family properties closed this month: 8 (15 homes sold last month)
- Average sales price: $ 555,000
- Median sales price: $ 566,000
- Sales price to list price ratio: 97% (96% prior month)
- Average days on the market: 46 (55 days prior month also)
- Sales currently pending: 14 (17 homes were in pending the prior month)
- Average above ground square foot cost of a sold home is $343 so far this year. It is a 3 bedroom, 2 bath home with 1600 above ground living space,on average, sold.
- The highest price home sold in town this month is $775,00 in Hamilton.
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North Kingstown home absorption rate for the month is 3.5 months of home inventory. Based on most recent home sales, the North Kingstown home sale market is a sellers market.
- Home absorption is the amount of time it will take to sell all the homes currently on the market.
- Breakdown of the 8 North Kingstown sold homes is as follows for the month: 0 home sold under $300,000, 2 homes sold between $300,000-$400,000, 6 homes sold over $400,000 and 0 home sold over $ 1 million.
Ensure you work with a local real estate agent who knows the market, sells homes and can negotiate best for you. You need to be first in line when a home comes on the market now with a proof of funds letter in your hand to buy.
My successful Video Strategic Marketing and consistent on line marketing increases home sales for all RI for sellers. Discover why my state of the art marketing has sold homes with higher prices for my clients more than any other agent. Presenting the home from all vistas determines what is the best eye candy for home buyers.
February 2023 North Kingstown Real Estate Sales are as follows:
With two months of data for home sales in 2023 for North Kingstown it indicates a 39% drop in home sales over January-February 2022. Yet, the average home sales price in February 2023 is up 2% and the median price is up 34% over January-February 2022.
Comparison of the year 2022 North Kingstown Home Sales to 2021 as follows:
Looking back at 2022 home sales the average North Kingstown home sold is a 3 bedroom, 2 bath home with an average of 1900 above ground square feet of living space. The 2022 average sold price is $646,000 (the median price is $575,000). Single home sales numbers are down in 2022 (316 sales) as compared to 2021 (325 sales).
Perhaps you are considering a move to North Kingstown? Click the highlighted link to explore and consider to buy in North Kingstown.
Here are the most current North Kingstown homes for sale under $500,000:
Here are the most current North Kingstown homes for sale over $500,000:
Talk with me about North Kingstown real estate and what you need to know in this fast paced market. I live, play and work here and know the southern RI neighborhoods so well. You need defined representation always whether buying or selling a home.
Reach me, Ginny Gorman, at 401.529.7849 or at RiByTheBay@gmail.com today. Always require a strong listing Realtor who knows, negotiates and sells RI homes with your best interests in mind.
Doing and maneuvering in RI Real estate well for my clients is part of my DNA!
This is the 2023 North Kingstown real estate update as of February 2023 to keep you in the know by top RI listing agent, Ginny Gorman.
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I would like the opportunity to help you list, market and sell your home for the highest price and earn your trust. Ginny Gorman is a totally ‘hands on’ top selling North Kingstown RI coastal real estate agent leaving no home behind for buyers and sellers.
My area is all of Rhode Island in listing guidance, experience in the field and strong negotiating skills working for you. Contact me, Ginny Lacey Gorman, today at 401.529.7849 or email me at RiByTheBay@gmail.com. It is good to be known as the Realtor with the Sparkly Red Shoes because there is no place like home!
