Is South Kingstown, RI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Kingstown is a seller's market

Buyer's
Market

Difference Since December 2021

Since last year, South Kingstown has remained a Seller's Market.

Key Takeaway

South Kingstown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in South Kingstown, RI cost?

Median Sold Price

$581,166

$319/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$85,519(+17.3%)

Key Takeaway

Homes in South Kingstown have sold for 17.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $380K$269K
-29.2%
2 $425K$505K
+18.8%
3 $499K$600K
+20.2%
4 $587.5K$679.9K
+15.7%
5+ $549.9K$581K
+5.7%

Median Sold Price Compared To Nearby Cities

Wakefield
+21.8%
West Kingston
+19.0%
South Kingstown
+17.3%
Richmond
+15.0%
Kingston
+9.7%

How many homes are available in South Kingstown, RI?

Number of Homes For Sale

Nov 2022Dec 2022%
8366-20.5%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 10
-100.0%
2 2820
-28.6%
3 3230
-6.3%
4 2114
-33.3%
5+ 12
+100.0%

Number of Homes Sold

Nov 2022Dec 2022%
2917-41.4%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Kingstown, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
48 Days34 Days-29.5%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Kingstown are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About South Kingstown, RI

South Kingstown, RI has 66 homes on the market. In December 2022 in South Kingstown, RI there were 20.5% less homes for sale than in November 2022. The median list price of listings available in December 2022 was $581,166, while the average time on the real estate market was 34 days. Between November 2022 and December 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices decreased by 29.2%, prices of 2 bedrooms properties increased by 18.8%, 3 bedrooms properties prices increased by 20.2%, 4 bedrooms properties became 15.7% more expensive, prices of 5 bedrooms properties went up by 5.7%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes went down by 100%, number of 2 bedrooms homes decreased by 28.6%, number of 3 bedrooms homes decreased by 6.3%, number of 4 bedrooms homes decreased by 33.3%, volume of 5 bedrooms homes went up by 100%. While more than 5 listings in South Kingstown, RI in December 2022 were sold above asking price, there were more than 2 listings sold at asking price, and more than 10 were sold below.

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