South Kingstown Home Sales Market Update January 2014
As one of the premier South County communities for living and enjoyment, South Kingstown RI
real estate market data for January 2014 and the start of a new year is provided by Ginny Lacey Gorman of waterfront RI real estate:
- Properties currently active on the market: 190
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Single-family properties closed in January 2014: 20
Thinking of selling this spring? Call me at 401-529-7849 to find out what your home is Truly worth!
- Average sales price: $ 402,000
- Sales price to list price ratio: 95%
- Average days on the market: 134
- Sales currently pending: 31
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South Kingstown home absorption rate: 9+ months of home inventory and is a buyers market.
- Breakdown of the 20 South Kingstown sold homes is as follows for the month of January: 6 homes sold under $300,000, 7 homes sold between $300,000-$400,000, 6 homes sold over $400,000 and 1 home over $1 million. The under $300,000 market is continuing to be the strongest market in South Kingstown home sales.
The South Kingstown RI home real estate market had been a strong selling market in 2013 with number of home sales up 11% over prior year. Home prices up a fraction of a percent is all positive.
It is wise to look back on 2013's real estate statistics and be encouraged for the South Kingstown real estate market for 2014. Although sales were down in January over December by 13%, inventory dropped 4% and homes awaiting closing dropped by 14%. However, looking back to January 2013, this January 2014 shows 150% increase in home closings...so the market is off to an amazing start considering the weather...would you not agree!?
Looking for South Kingstown homes for sale? Find it here.
Want to check out the latest information on South Kingstown schools? Knowing the school system gives you another side to this great RI community.
I hope that this South Kingstown January 2014 home sales report gives you the a glimpse into the real estate market for the month.
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