Welcome to our latest update on local property trends, Kingston Real Estate Market – April 2024. In this post, we dive into the latest data from April 2024 to understand the dynamics of the Kingston real estate market. From transaction volumes to pricing trends, we analyze what’s moving the market this spring. Whether you’re a buyer, seller, or just a real estate enthusiast, this snapshot provides valuable insights into how the market is shaping up as we move deeper into the year.
Kingston Real Estate Market Stats – April 2024
- April saw a significant increase in both average sale price and transactions. Question remains if this is a temporary spike or a new trend.
- April saw 200 residential transactions, up from 121 in March.
- Year-to-date transactions totaled 515, a slight 1% decrease from the previous year.
- Homes sold in April stayed on the market for an average of 24 days, down from 29 days in March.
- Year-to-date average is 35 days on the market, a 14% increase from last year.
- April’s average sale price was $673,000, up from $641,000 in March.
- Year-to-date average price is $632,000, down slightly by 1% from the previous year.
- Ended April with 2 months of inventory, down from 3 months in March.
- Year-to-date average remains steady at 3 months, consistent with the previous year.
- Despite a strong April, transaction numbers are still lower compared to 2022 and 2021.
- In 2021, there were 114 more transactions than in April this year, highlighting 2021 as a record-breaking year.
- Market remains relatively stable despite fluctuating interest rates, with no clear indication of when they might decrease.
April 2024 reveals a vigorous Kingston real estate market with rising transactions and swift sales, suggesting a seller’s advantage due to increasing prices and tightening inventory. Buyers should act quickly in this competitive environment. Staying informed and agile is crucial for those planning to navigate Kingston’s dynamic market effectively in the upcoming months.
That concludes our market update for April. Thank you for watching, and see you next month! Be sure to follow our blog and like/subscribe to our channel on YouTube for more videos just like this.
