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Kingston Real Estate Market – January 2023

An Article Created by the Quaresma Realty Group

The Kingston Real Estate Market Update is taking you places! This month we are at Parrot’s Bay, a beautiful hiking trail just west of Kingston. This place really flourishes during the spring into a lush, natural paradise 🌱 It’s also a great spot to snowshoe in the winter! ❄️

January 2023 | Kingston Real Estate Market Update
Kingston Real Estate Market Stats – January 2023
  • Last month there were 68 residential transactions in Kingston, which is down from the 73 that we had in December. That is down 34% when compared to January of 2022.
  • We averaged 38 days on market in January, which is slightly up from the 36 we had in December. We are up 245% over January 2022. Yes, you heard that right!
  • Last month, the average sale price was $634,000, which is up from December’s $622,000. The average sale price of 634,000 is down 7% when compared to January 2022.
New Stat Alert

We are pleased to share a new metric: months of inventory. Months of inventory which the absorption rate of listings in Kingston. A general rule of thumb is that 6 months of inventory is considered a balanced market, while 1-5 would be a seller’s market and more than 6 a buyer’s market. Last month we finished the month we 4 months of inventory, which is the same as December. Based on this, we are still in a seller’s market, but it is beginning to balance out. To give that context, we finished January 2022 with 1 month of inventory.

That concludes our Kingston Real Estate Market Update for January 2023. 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.

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