South Kingstown RI Home Sales March 2022 Update

South Kingstown Real Estate Market March 2022 Recap

Find the Best Buys for South Kingstown Homes and Condos Here

 
The South Kingstown real estate market March 2022 single family home sales increased this month over last month by 39%.  Pending home sales are up 12% over the prior month as the spring market heats up.  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: 34 of these homes on the market (9 of these homes are already in sales agreement awaiting closing).
  
• Single-family properties closed in the month: 25 (7 more than the prior month)
• Average sales price: $ 571,000 
• Median sales  price: $ 580,000
• Sales price to list price ratio: 103%  (100% last month)
• Average days on the market: 35  (61 days last month) 
• Sales currently pending: 28 (25 homes pending last month)
• The $386 is the average above ground per square foot cost this year so far in a South Kingstown sold home.
• The average sold home is a 3 bedroom, 2 bath home with 1800 square feet of living space this year so far.

South Kingstown home absorption rate indicates it is a sellers home market with 1.4 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 25 South Kingstown sold homes is as follows for the month: 0 homes sold under $300,000, 4 homes sold between $300,000-$400,000, 18 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 $1,350,000 in Matunuck.

In the first three months of 2022 South Kingstown home sold prices, on average, were up by 42% over the first three months of 2021 in this town (yet the median increase was 20%).  January – March 2022 had 10% fewer homes sold over January -March 2021. The average home sold here was a 3 bedrooms, 2 baths and 1800 of above ground square feet.  The average above ground square foot cost for a sold home here in 2022 so far is $386.

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

Get to know one of the newest South Kingstown condo complexes built near the shore called South Shore Village off Shannock Road. The new South Shore Village condos near the South Kingstown and Charlestown beaches may be what you are looking for with all the amenities offered.  It is a 55+ community and all condo units are standalone homes 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), and more.

Always have a buyer representative other than the builder’s when purchasing a condo or a home in new construction.  You want a buyer’s agent who protects you from unnecessary fees and/or upgrades that add to your final home cost.  Call me, Ginny Gorman, as your Buyer’s real estate agent when looking 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 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.