North Kingstown Real Estate Market May 2023 Report
Find the Best Homes and Condos for Sale in North Kingstown Here
This is the North Kingstown home sale market update for May 2023 in this report. This update is recapped and compiled by Ginny Gorman, a top selling North Kingstown RI coastal real estate agent.
It is the season of home buying by the Ocean State waters which draw buyers into this RI town. This month shows an increase in North Kingstown home sales over the prior month by 24% yet pending home sales are down by 28%.
Let us look at the North Kingstown Home Sales in 2023, so far, as compared to 2022, as follows:
North Kingstown single home sale numbers are 26% less, so far, in 2023 compared to January-May 2022. So far in 2023 home sold prices are down by 6% on average over 2022 (January-May). The median home sold price change in the same period decreased by 9%. North Kingstown continues to be one of the sought after towns for RI home buyers. Single home sale buying is strong in 2023 so far but with a low home inventory competition is strong.
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 pricing estimates.
Know Ginny Gorman Lists and Sells North Kingstown Homes with Trust & Integrity
An experienced North Kingstown real estate agent does due diligence and develops a solid marketing plan. Pricing is 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 my clients.
North Kingstown Single Home Statistics for May 2023 are as follows:
- Properties currently Active on the market: 36 (24% more homes for sale as prior month)
- 14 homes of the Active homes on the market (of the 36) are in sales agreement already waiting to close
- Single-family properties closed this month: 25 (19 homes sold last month)
- Average sales price: $ 652,000
- Median sales price: $ 579,000
- Sales price to list price ratio: 99% (99% prior month)
- Average days on the market: 29 (33 days prior month also)
- Sales currently pending: 28 (39 homes were in pending the prior month)
- Average above ground square foot cost of a sold home is $342 so far this year. It is a 3 bedroom, 2 bath home with 1800 above ground living space,on average, sold.
- The highest price home sold in town this month is $1,775,000 in Fletcher Meadows.
North Kingstown home absorption rate for the month is 1.4 months of homes. Based on most recent home sales, the North Kingstown home sale market is a strong sellers market.
- Home absorption is the amount of time it will take to sell all the homes current on the market.
- Breakdown of the 25 North Kingstown sold homes is as follows for the month: 1 home sold under $300,000, 6 homes sold between $300,000-$400,000, 15 homes sold over $400,000 and 3 homes sold over $ 1 million.
Ensure you work with a local real estate agent who knows the market 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 hand.
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:
Talk with me about North Kingstown real estate and what you need to know in this market. I live, play and work here and know the southern RI neighborhoods so well. Know 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 interests in mind.
Doing and maneuvering in RI Real estate well for my clients is part of my DNA!
This is the May 2023 North Kingstown real estate single family home update compiled by top RI top selling real estate 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!
