Is South Kingstown, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, South Kingstown has remained a Seller's Market.
Housing Prices in South Kingstown, RI
How much do homes in South Kingstown, RI cost?
Median Sold Price
$581,166
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in South Kingstown was $581,166 in March 2024, down 0.2% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $292.5K | $267.5K | -8.5% |
2 Bedrooms | $548.2K | $505K | -7.9% |
3 Bedrooms | $580.7K | $567.4K | -2.3% |
4 Bedrooms | $710K | $716.2K | +0.9% |
5+ Bedrooms | $606.7K | $699.9K | +15.4% |
Summary: South Kingstown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.5%, 2 bedroom homes decreased by 7.9%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 15.4%.
Housing Supply in South Kingstown, RI
How many homes are available in South Kingstown, RI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
71 | 75 | +5.6% |
Summary: The South Kingstown real estate market had 75 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 7 | +250.0% |
2 Bedrooms | 27 | 27 | 0.0% |
3 Bedrooms | 24 | 24 | 0.0% |
4 Bedrooms | 14 | 13 | -7.1% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The South Kingstown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 250%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 25 | +66.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in South Kingstown in March 2024, up by 66.7% month-over-month. Of the 25 sold homes, 48% were sold under asking, 24% were sold at asking, and 28% were sold over asking.
Days on Market for South Kingstown, RI
How long does it take to sell a home in South Kingstown, RI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 43 Days | -15.4% |
Summary: Homes in South Kingstown had an average of 43 days on market in Mar 2024, down by 15.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in South Kingstown; 52% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.