South Kingstown Real Estate Market January 2016

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South Kingstown Real Estate Market January 2016

The South Kingstown real estate market January 2016 for single family homes shows a marked decrease in home sales by 36% over the prior month.   This is the beginning of a new year in South Kingstown home sales and although real estate this month was off, pending home sales awaiting closings are very strong.  This is a stable RI home sale market where the key to home sales is pricing well.  The home sale slowdown shows that the winter market is a slowdown for home sellers with only 9 homes closed.

South Kingstown Real Estate Market January 2016

 

This month’s South Kingstown real estate report is provided by Ginny Lacey Gorman of waterfront RI real estate.

Housing update for South Kingstown RI for January 2016 follows:

 

  • Properties currently active on the market: 178 ( 1% decrease over prior month)
  • Single-family properties closed in the month: 9 (72% decrease over prior month)
  • Average sales price: $ 300,000 
  • Median sales  price: $ 305,000
  • Sales price to list price ratio: 96% ( 95% in the prior month)
  • Average days on the market: 94 (94 days in the prior month) 
  • Sales currently pending: 40 (100% increase over prior month)

 

  • South Kingstown home absorption rate indicates it is a buyers market due to the weather.  Home absorption is the amount of time it will take to sell all the homes currently on the market without adding to it.  If sales continue this way a buyers real estate market here will remain.

 

  • Breakdown of the 9 South Kingstown sold homes is as follows for the month: 4 homes sold under $300,000, 4 homes sold between $300,000-$400,000, 1 homes sold for more than $400,000 but less than a million and 0 homes sold over $1 million.  The under $400,000 real estate market continues to be the strongest market in home sales and desirability in this town.  

 

  • The average square foot sales price of a home sold this month in South Kingstown is $ 180 per square f00t.

 

  • The highest priced home sold this month was $ 450,000.

 

South Kingstown Real Estate Market January 2016

 

9 homes were sold in South Kingstown in January 2016 with an average price sold of $300,000 as compared to 17 homes sold in town January 2015 with an average price of $475,000.  A huge difference in home sales and home sold values which may be due to weather and mix of home buyers looking to buy.

 

South Kingstown Real Estate Market January 2016 update gives home buyers and sellers the information they need to make a qualified  real estate decision.  Having a good overview of the South Kingstown RI real estate home sales in the town you are interested in buying into is an important step in making that home offer.

 

Home sellers need to be very aware of pricing and their competition in the real estate market now…understand the secret sauce of pricing a home and talk with an internet savvy South Kingstown real estate agent about marketing.  Ensuring a targeted marketing plan to home buyers online is an essential part of my RI real estate marketing including great photography.

 

It really is the time to purchase a South Kingstown home is now while mortgage rates continue to be low since they are already heading up.  Know what you can buy, see a good local mortgage lender, find a RI real estate agent that will protect your interest, guide you and buy well.

Take a look at the hottest South Kingstown homes for sale right here and now.  As current as you can get everyday with the best and most thorough Rhode Island real estate information provided to the consumer.

 

The South Kingstown community is a waterfront southern RI town that is fortunate to have the University of Rhode Island campus in its borders, cultural music and theater, notable restaurants, the Amtrak train station in Kingston and good public & private schools.  And yes the Atlantic ocean is ever present with Rhode Island’s beautiful beaches!   This is all a great draw when put together for any South Kingstown home buyer.

South Kingstown Real Estate Market January 2016

Here are the most current South Kingstown homes for sale between $200,000-$600,000:

 

As a South Kingstown real estate agent, I work with home buyers and sellers to ensure the best guidance, representation and abilities are used in their real estate negotiations.
 Knowing the septic changes in the Critical Resource Areas  or flood zones in South Kingstown ensures when you work with me that you will know your costs well when home buying or selling.  Being a local South Kingstown real estate agent, having lived in this community for years and raising my family here keeps me in touch with this community well.  Call me, Ginny Gorman, at 401.529.7849 or email me at ginny@RiHouseHunt.com for the guidance you need in selling South Kingstown RI real estate.

South Kingstown Real Estate Market January 2016

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Ginny Lacey Gorman is your go to South Kingstown Rhode Island waterfront and luxury South Kingstown real estate agent for southern RI real estate and beyond.  It is where my family was raised and lived for many years …yes, I know the South Kingstown neighborhoods well too.  Email her at ginny@RiHouseHunt.com today to make an appointment to discuss your real estate sales needs.
 
Waterfront, oceanfront, luxury and coastal Rhode Island real estate are my specialty but all of RI is my backyard.  When you are in need of a real estate professional and specialist for your buying, selling or relocating needs and an internet savvy marketer who sells RI houses in this real estate market, call Ginny Gorman at 401.529.7849 today.