Dear John,

We are encouraged with an upturn in the North Kingstown market. The median sales price has increased, the unit sales have increased and the inventory has declined as has the market time. My sales have improved greatly in this year over last, and I am very hopeful that 2010 will be a strong year for real estate.

John,
In my 24 years of selling real estate, based in North Kingstown, I have never seen this kind of a market. It's my opinion that we can only go up at this point, in the long term. Although RI as a whole has seen a significant downturn, it is the prices in South County that have been holding the market up. I would like to say I have a crystal ball the tell you without a doubt things are going to be just fine and prices will go up, but I can only go on past experience which tells me that when i am running ionto multi bid offers on properties and jsuggling 5 buyers a weekend, it feels as though things are looking better in the short term which means prices will begin a normal ascent, not the double digit appreciation we witnessed in the last 5 years.
I hope this helps. If you are not exclusively represented by another agent, you are more than welcome to contact me at Young Realty, Inc.

John,

When evaluating long term price cycles you need to break it down to simple supply and demand factors and then rebuild your analysis from there. North Kingston is surrounded by a fair amount of undeveloped land and if you look at what some agricultural areas (look in Delaware now) are going through, existing homes are getting hurt by the glut of available unbuilt land. That being said, if zoning preserves the status quo with land you have the university which will always draw new consumers into the town, keeping real estate demand, and therefore prices moving up.