Is South Kingstown, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$587,833
$336/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Kingstown was $587,833 in April 2024, up 1% from last year, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $305K | $385K | +26.2% |
2 Bedrooms | $551.5K | $507.5K | -8.0% |
3 Bedrooms | $580K | $567.4K | -2.2% |
4 Bedrooms | $700K | $730K | +4.3% |
5+ Bedrooms | $606.7K | $679.9K | +12.1% |
Summary: South Kingstown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.2%, 2 bedroom homes decreased by 8%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 12.1%.
Housing Supply in South Kingstown, RI
How many homes are available in South Kingstown, RI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
79 | 81 | +2.5% |
Summary: The South Kingstown real estate market had 81 homes for sale in April 2024, a 2.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 11 | +57.1% |
2 Bedrooms | 28 | 23 | -17.9% |
3 Bedrooms | 25 | 23 | -8.0% |
4 Bedrooms | 16 | 21 | +31.3% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The South Kingstown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 57.1%, 2 bedroom homes decreased by 17.9%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 18 | -28.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in South Kingstown in April 2024, down by 28.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 34 Days | +19.3% |
Summary: Homes in South Kingstown had an average of 34 days on market in Apr 2024, up by 19.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in South Kingstown; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.