Welcome to our latest update on the Kingston Real Estate Market -February 2024. This month, we’ve seen some significant shifts that are shaping the local market landscape, offering both challenges and opportunities for buyers and sellers alike. With the spring season on the horizon, understanding these trends is crucial for anyone looking to navigate the Kingston real estate scene effectively. Dive into our comprehensive analysis to get a clearer picture of what February brought to the market and what it might mean for you.
Kingston Real Estate Market Stats – February 2024
- In February 2024, Kingston experienced 114 residential transactions, an increase from the 80 transactions in January.
- Year-to-date, the total number of transactions reached 194, marking an 11% increase over the same period last year.
- The average days on market in February were 39, a decrease from January’s 46 days. The year-to-date average is now 43 days, which is 20% higher than the same timeframe last year.
- The average sale price in February was $641,000, up from January’s $570,000. However, the year-to-date average sale price has seen a 6% decrease compared to the same period last year.
- February concluded with 3 months of inventory, down from 4 months in January. The year-to-date inventory level averages at 3.5 months, consistent with the same period last year.
- Despite a slight year-over-year dip in average sale price, we are seeing a positive shift in transactions and sale prices from January to February 2024. The decrease in inventory levels suggests a growing competitive market, especially as we head into the spring.
That concludes our Kingston Real Estate Market – February 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.
