North Kingstown Real Estate Market May 2024 Report
Find the Best Homes and Condos for Sale in North Kingstown Here
This is the North Kingstown real estate market update for the month in 2024. This recap is compiled by Ginny Gorman, a top selling North Kingstown RI coastal real estate agent.
It is always the season of home buying by the Ocean State waters which draw buyers into this RI town. This month shows a 87% increase in sales in North Kingstown over the prior month. Pending home sales are up by 22%.
Let us look at the North Kingstown Home Sales in January-May 2024, as compared to January-May 2023, as follows:
The North Kingstown home sale numbers in 2024 so far are 18% more than in the same months in 2023. In the first 5 months of 2024 home sold prices are up by 20% over January-May 2023, on average . The median home sold price, in the same period, increased by 16%. Home sale buying is expected to be strong in 2024. With a low home inventory buyer competition remains strong.
In this southern RI coastal town it is about the community, life style, schools, Wickford Village, Narragansett Bay. North Kingstown is geographically the center of Rhode Island coastal real estate state which makes easy commuting in RI.
Know Ginny Gorman Lists and Sells North Kingstown Homes with Trust, Knowledge & Integrity
An experienced real estate agent does due diligence with a solid marketing plan in home pricing. Pricing is based upon comparable homes. The location, condition of home and knowing the community is essential. Know it is important to hire a local agent that knows ths market well. This is the business I am committed to everyday for my clients.
Catch a short video of a new home building plat called Reynolds Farm in town: Reynolds Farm in North Kingstown RI New Construction. Work with me and I will make sure you are first in line for the new plat here. But be able to buy!
North Kingstown Single Home Sales Details for this month are as follows:
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- Properties currently Active on the market: 43 ( 15 more homes for sale than the prior month)
- 9 homes of these Active homes on the market (of the 43) are in sales agreement already waiting to close
- Single-family properties closed this month: 28 (15 homes sold in the prior month)
- Average sales price: $ 727,000
- Median sales price: $ 601,000
- Sales price to list price ratio: 101%
- Average days on the market: 8
- Sales currently pending: 44
- Average above ground square foot cost of a sold home is $372 (median $358) so far this year. Also, it is a 3 bedroom, 2 bath home with 1900 above ground living space that sold, on average.
- The highest price home sold in town this month is $2,300,000 in the Mount View neighborhood.
North Kingstown home absorption rate for the month is 1.5 months of homes. Based on most recent home sales, the North Kingstown home sale market is a strong sellers market.
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- Home absorption is the amount of time it will take to sell all the homes currently on the market.
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- Breakdown of the 28 North Kingstown sold homes is as follows for the month: 2 homes sold under $300,000, 4 homes sold between $300,000-$400,000, 17 homes sold over $400,000 and 5 homes sold over $1 million.
Ensure you work with a local real estate agent who knows the market and can negotiate well for you. You need to be first in line when a home comes on the market now. Call me since I know all of RI so well in all aspects and can guide you.
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.
Perhaps you are considering a move to North Kingstown? Click the highlighted link to explore 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:
Here are the most current North Kingstown Condos for Sale:
Talk with me, Ginny Gorman, about all RI real estate and what you need to know in this market. I live, play and work here and know the southern RI neighborhoods well. Experience and negotiating skills are what I bring to the table for my clients.Reach me, Ginny Gorman, at 401.529.7849 or at RiByTheBay@gmail.com today. Always require a strong Realtor to work with and knows, negotiates and sells RI homes with your needs in mind.
Doing and maneuvering in RI Real estate well for my clients is part of my DNA!
This is the May 2024 North Kingstown real estate single family home update for sellers.
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My listing and selling area is all of Rhode Island. Bringing listing guidance, experience in this 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 in RI because there is no place like home!
