Real Estate Market Report- South Kingstown Rhode Island.
25 South Kingstown homes have been sold in May 2012, as follows:
1 home sold over $1 million (waterfront South Kingstown home)
4 homes sold over $400,000
7 homes sold for between $300,000-$400,000
13 homes sold for under $300,000
May 2012 home sales are down over last year’s May 2011 by 4%. A small decrease in sales over the prior year.
South Kingstown Average Home Sale Price in May 2012 was $343,191. South Kingstown Rhode Island real estate home sold on average for 94% of list price and was on the real estate market for 149 days on average.
There were 290 South Kingstown homes for sale in May 2012 which was a 13% increase in homes over the prior month. The number of sold homes has increased by 4 homes this month. Pending sales dropped by 1 home.
There are 43 homes in pending status in South Kingstown RI (pending sales are homes awaiting closing and the numbers are down by 1 home over April). Yet, the home absorption rate for South Kingstown homes for sale remains high and continues as a buyers market. Pricing is key to selling a home in this market – along with the right location and condition.
1 South Kingstown short sale closed in May 2012.
Mortgage rates remain extremely low for all home buyers! Why would you continue to pay rent if you can afford to buy- you are not building home equity, the home is not yours and you are missing out on income tax savings too!
If you are seeking a South Kingstown home to buy or sell or interested in the RI real estate market, give me a call at401.529.7849. I raised my family in South Kingstown for 20 years and know the value of homes, schools and South Kingstown neighborhoods well. Real Estate Market Report- South Kingstown Rhode Island.
Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the North Kingstown RI geographic area of homes for sale, schools, happenings, important tidbits of information and businesses well. Waterfront, water view, ocean front, luxury and coastal Rhode Island real estate are her specialty. If your considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you! When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849