New Year, new market updates! This year, we’re adding a personal touch to our monthly real estate market updates, broadcasting directly from Jordan’s home office. Now for our Kingston Real Estate Market – December 2023 edition.
Kingston Real Estate Market Stats – December 2023
- In December 2023, Kingston saw 84 residential transactions, a decrease from 95 in November.
- The total number of transactions for 2023 was 1,549, representing a 14% reduction compared to 2022.
- Homes in December stayed on the market for an average of 42 days, longer than the 32-day average in November.
- The overall average time on the market in 2023 was 27 days, up 48% from 2022.
- The average sale price in December was $543,000, down from November’s average of $591,000.
- The average sale price for the year was $621,000, a 6% decline from 2022.
- December ended with 5 months of inventory, consistent with the previous four months.
- The average inventory for 2023 was 4 months, an increase of 79% from 2022.
- The forecast for 2024 suggests a potential decrease in interest rates, leading to more transactions, but only a moderate rise in average sale prices.
2023 Real Estate Market Report
Introducing our Kingston Real Estate Market Report: a must-read for anyone involved in the Kingston housing market. Dive into a detailed analysis of the market’s performance over the past year and discover expert predictions for what 2024 holds. Be sure to check it out at kingstonrealestatemarket.com.
That concludes our Kingston Real Estate Market – December 2023 edition. Thank you for watching, and see you next month! 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.
