Health & Fitness
North Kingstown Housing Update September 2013
Real estate information of the current market for North Kingstown in September 2013 and where it has been.
Home buyers and sellers have finished the North Kingstown Rhode Island summer market with a strong showing in home sales here and begin the fall market with more home sales stabilization. This year is far better in home sales than last year.
- Properties currently active on the market: 201 (1% less than prior month)
- Homes sold in September 2013: 24
- Median sales price: $253,750
- Sales price to list price ratio: 97%
- Average days on the market: 77
- Sales currently pending: 42
Based on this most recent home sales data, the North Kingstown RI real estate market is a buyers market. Currently, there is 8+ months of home inventory on the market.
My experience has shown me that when home supply drops below 5 months, home prices rise faster and it is a seller’s market. We are not there yet. Breakdown of the 24 North Kingstown sold homes is as follows for the month of September: 15 homes sold under $300,000, 3 homes sold between $300,000-$400,000, 5 homes sold over $400,000 and 1 home sold over $1 million. The under $300,000 market is clearly the desired market in home sales for buyers here.
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Year over year though, home sales are up by 50% in September 2013 over September 2012. These are huge statistics that you as a home seller or buyer need to know. Home sale prices continue to stabilize and are down a bit year to date, year over year.
The pending homes indicates that September home closings will be a bit higher volume in October. Being ‘show ready’, right location and well priced to market combines to make a sale happen for buyers and sellers.
North Kingstown has so much to offer buyers in the way of geographic location, top performing North Kingstown schools, access to the coastal waters, Wickford Village, nearness to Providence airport and the abundant variety in home choices.This is a current quick snapshot of the September 2013 North Kingstown real estate market.
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