Jordan Quaresma, Sales Representative with RE/MAX RISE Executives, Brokerage and Team Leader of the Quaresma Realty Group, recaps the Kingston, Ontario real estate market for August 2022.
With all the interest rate news, the stats from August may surprise you. How’s the Kingston real estate market? Let’s recap!
- There were 145 residential transactions in Kingston, which is slightly up from the 137 we had in July. We are still down 21% to date compared to the same time period last year.
- We averaged 22 days on market in August. While the average days on market continue to climb, year to date, we are still down 13% compared to 2021.
- The average sale price for August was $618,000, up from the $611,000 we saw in July. The average sale price year to date is still up 16% compared to the same time period last year.
- At the end of last month, there were 325 active listings in Kingston. When looking at August 2021, we had only 162. While that is a considerable difference, August 2017 had 466 active listings.
With more inventory on the market, it gives buyers more choice and more negotiation power in comparison to earlier this year. We hope you found this helpful, be sure to follow our blog and like/subscribe to our channel on YouTube for more videos just like this. Thank you for watching!
