$5,569 Closing Credit*
$469,000
3,020 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: RI Real Estate Services
Is South Kingstown, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
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.
Housing Prices in South Kingstown, RI
How much do homes in South Kingstown, RI cost?
Median Sold Price
$648,293
$355/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$65,668(+11.3%)
Key Takeaway
Homes in South Kingstown have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in South Kingstown was $648,293 in October 2024, up 11.3% from last year, and the median price per square foot was $355.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $354.9K | $340K | -4.2% |
| 2 Bedrooms | $576K | $602.5K | +4.6% |
| 3 Bedrooms | $563.5K | $624K | +10.7% |
| 4 Bedrooms | $750K | $764K | +1.9% |
| 5+ Bedrooms | $1.0M | $799.9K | -26.1% |
Summary: South Kingstown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 26.1%.
Housing Supply in South Kingstown, RI
How many homes are available in South Kingstown, RI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 115 | 121 | +5.2% |
Summary: The South Kingstown real estate market had 121 homes for sale in October 2024, a 5.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 26 | 26 | 0.0% |
| 3 Bedrooms | 42 | 49 | +16.7% |
| 4 Bedrooms | 27 | 29 | +7.4% |
| 5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The South Kingstown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 40 | +73.9% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Kingstown, you could pay more than the asking price. 42.5% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in South Kingstown in October 2024, up by 73.9% month-over-month. Of the 40 sold homes, 38% were sold under asking, 20% were sold at asking, and 43% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 34 Days | -1.1% |
Summary: Homes in South Kingstown had an average of 34 days on market in Oct 2024, down by 1.1% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Kingstown are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 40 homes were sold in South Kingstown; 60% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
