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 July 2022.
I’m pleased to tell you the sky is not falling. Homes are still selling, just not at the pace that we saw earlier this year. How’s the real estate market? Let’s have a look!
- Last month, There were 137 residential transactions in Kingston, which is down from the 194 we saw In June. To give this context, we were at 189 transactions in the July of 2021. Year to date, we are down 22% compared to the same time period last year.
- We averaged 21 days on the market in July, the highest monthly average since the beginning of 2021. Although, year to date, we are still down 21% in comparison to 2021.
- The average sale price for July was $611,000, down from the $668,000 we saw in June. The average sale price year to date is still up 18% compared to the same time period last year.
That’s your Kingston real estate market recap for July 2022. There’s no doubt the market is balancing out with increasing inventory, giving buyers more options. It’s safe to say conditions and due diligence are back, and that’s a great thing for buyers. I hope you found this insightful. Thank you for tuning in, and we’ll see you next month!
For previous market updates and new releases each month, visit our blog.