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Kingston Real Estate Market – May 2023

An Article Created by the Quaresma Realty Group

Woodbine Park is a haven for outdoor enthusiasts in Kingston. The lush green fields, the vibrant sounds of children playing, and the bustling energy in the air – it’s a testament to the quality of life that Kingston offers its residents. But today, we’re here to bring you this exciting real estate market update as we gear up for the sizzling summer months. As the summer heat intensifies, so does the local real estate market. Join us as we capture the essence of Woodbine Park and unveil the exciting updates shaping Kingston’s real estate landscape. Get ready to explore the soaring opportunities amidst the greenery and discover the vibrant housing trends in our recent video. Now let’s dive into the Kingston Real Estate Market – May 2023.

Brought to you by Jordan Quaresma, Sales Representative with RE/MAX RISE Executives, Brokerage, and Team Leader of the Quaresma Realty Group.
Kingston Real Estate Market Stats – May 2023
  • Residential transactions in Kingston increased from 188 in April to 240 last month.
  • Year-to-date transactions are at 759, down 18% compared to the same period last year.
  • The average days on the market decreased from 26 in April to 20 last month.
  • Year-to-date average days on the market increased by 207% compared to last year.
  • The average sale price in May was $631,000, slightly lower than the $651,000 average in April.
  • Year-to-date average sale price is $632,000, down 10% compared to last year.
  • Inventory levels remained the same as April, with two months of inventory.
  • Year-to-date average inventory is two and a half months, up from one month last year.
  • Homes between $400,000 and $600,000 are selling at or slightly above the asking price.
  • Homes between $700,000 and $900,000 are selling at around 97% to 98% of the list price.
  • It’s a good time for move-up buyers to enter the market if the numbers make sense.
  • The real estate market is heating up, especially for homes around the average sale price of $632,000.
  • Overall, the real estate market in Kingston is experiencing increased activity and demand, with properties selling relatively quickly and competitive pricing observed in certain price ranges. While the average sale prices have shown some fluctuations, the market seems to be stable and promising.

That concludes our Kingston Real Estate Market Update for May 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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