Cparente, Home Buyer in North Kingstown, RI

what is a benchmark price per square foot to pay in NK, RI for a 3189 Sq/Ft home in very good condition in a newer neighborhood?

Asked by Cparente, North Kingstown, RI Tue May 15, 2012

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9
Good Afternoon,

My office(well me in particular) puts together comprehensive sales chart data for about 12 communities in RI as well as the state as well(including my former home town of NK ). Each chart details the transactions for the past 13 months and puts it in easy to read format.

Please contact me below and I would be more than happy to share this data with you. I put in a tremendous amount of effort putting this information together so I am not comfortable just posting my data here.

Happy Hunting,
Chris
1 vote Thank Flag Link Tue May 15, 2012
The cost per square foot has to be at the neighborhood level where all homes are built with very similar finishes. You should only consider a $/sqft as a range not an exact number.

You can only compare ranch style homes to ranch style homes and 2-stories w/o finished basements to 2-stories w/o finished basements. A ranch style home will have a higher $/sq ft due to the larger foundation and roof (large fixed cost) distributed over the square footage, whereas a 2-story's fixed costs (smaller roof and foundation) are less and distributed over the same square footage. Properties with similar land value should be considered too (premium lots vs low value lots).

There are a lot of things to consider in this analysis, which is called an appraisal :)
0 votes Thank Flag Link Wed Nov 28, 2012
check out my free home value calculator get a quick evaluation go to http://www.nathanclarkteam.com/homeeval.asp its free and easy or call me 401-232-7661 thanks
0 votes Thank Flag Link Wed Nov 28, 2012
This is a poor way to estimate value. It gives the average joe many times the wrong information that may hurt both the seller and buyer of real estate. As a builder/realtor,(1) first I look at the land values in the subject area, This gives me a sense of how two very similar homes in different parts of the same town can have two different values. Land use can throw the numbers off aswell. Now you have historic home values, single level verses multi level home values, multiple bathrooms, inlaw suites, new, rehabbed, good and poor conidtions values. And the list goes on. When choosing your realtor make sure he or she knows the difference. Many look at the assessment value and base opinions solely on that towns assessment. Buyer and seller beware!
0 votes Thank Flag Link Sun Sep 16, 2012
This is a poor way to estimate value. It gives the average joe many times the wrong information that may hurt both the seller and buyer of real estate. As a builder/realtor,(1) first I look at the land values in the subject area, This gives me a sense of how two very similar homes in different parts of the same town can have two different values. Land use can throw the numbers off aswell. Now you have historic home values, single level verses multi level home values, multiple bathrooms, inlaw suites, new, rehabbed, good and poor conidtions values. And the list goes on. When choosing your realtor make sure he or she knows the difference. Many look at the assessment value and base opinions solely on that towns assessment. Buyer and seller beware!
0 votes Thank Flag Link Sun Sep 16, 2012
About 180-200 per foot on average ($580k = 180/ft.) However, a lot depends on location, size of the lot, and what sort of finishes are there (granite, trim, bathrooms, finished basement?)
0 votes Thank Flag Link Tue May 15, 2012
Cparente, I have a listing in Holly Hills and I have done some extensive research on the area homes sold in the last 6 months in the 300k to 600k range, within 1 mile of Holly Hills. My analysis tells me that the average per square foot price was $150.60. I would be glad to do this for you in the neighborhood that you are looking in, just drop me a line at joe@joedelsesto.com or visit my web site at http://www.joedelsesto.com. Happy hunting ! Joe
0 votes Thank Flag Link Tue May 15, 2012
It is all based upon condition so an average price will not give you a true sq.foot assessment. On average it is $200/sq.ft. right now but again that is an average. If you need more detail than you need to work with a North Kingstown realtor who is informed on the statistics here.
Hope this helps, Ginny Gorman
0 votes Thank Flag Link Tue May 15, 2012
The variables are dependent upon a number of things:
- each neighborhood has its own set of features and attractions, so you need to be specific
- homes of similar size and acreage
- immediate vicinity of the comparables that you're using (same neighborhood)
- overall condition of the subject house versus others for sale
- what has sold within the past 90 days
Your best bet is to consult with a Realtor. I've worked in the NK area quite a bit, lately, and I'd be happy to give you some individual insight..............401-783-1699......Jean Allard
0 votes Thank Flag Link Tue May 15, 2012
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