Welcome to our latest Kingston Real Estate Market – May 2024! As we delve into the data for May 2024, we uncover intriguing trends and insights shaping the local housing landscape. Join us as we analyze transaction numbers, average days on the market, sales prices, and inventory levels to provide a comprehensive overview of what’s happening in Kingston’s dynamic real estate scene. Whether you’re a buyer, seller, or simply curious about market trends, this blog post will keep you informed and empowered to make savvy decisions in today’s evolving market. Let’s dive in!
Kingston Real Estate Market Stats – May 2024
- May recorded 218 residential transactions, up from 200 in April.
- Year-to-date transactions totaled 733, showing a marginal 3% decrease compared to the same period last year.
- Homes sold in May spent an average of 25 days on the market, slightly higher than the 24 days in April.
- Year-to-date average days on market stand at 33, marking a 16% increase over last year.
- The average sale price in May was $661,000, a decrease from April’s $673,000.
- However, the year-to-date average sale price stands at $632,000, indicating a modest 1% increase compared to last year.
- May ended with 3 months of inventory, up from 2 months in April.
- The year-to-date average remains at 3 months, indicating stability compared to the previous year.
- May saw a significant increase in active listings, with 584 properties on the market. This is the highest monthly total since 2017.
- The market trend appears to be shifting towards a buyer’s market, reminiscent of conditions observed in 2017.
- May’s data suggests ongoing activity in the Kingston real estate market, with signs of a shifting trend towards a buyer’s market.
- Future trends will likely be influenced by factors such as interest rate fluctuations and inventory levels.
- Monitoring market indicators will be essential to anticipate and adapt to evolving conditions.
That concludes our market update for May. Thank you for watching, and see you next month! Be sure to follow our blog and like/subscribe to our channel on YouTube for more videos just like this.
