14 Apr KINGSTON REAL ESTATE MARKET RECAP – March 2021
Hey everyone, Jordan Quaresma here from RE/MAX Rise and the Quaresma Realty Group. It’s time now for your Monthly Market Update, this time for March 2021. We’re going to recap the first quarter of 2021 so let’s get into it.
So, last month we saw 309 transactions happen in Kingston in comparison to February, we saw 194, and last March of 2020, we saw 187. So we’re definitely up over last year thus far. In fact, looking at the number of transactions so far we’ve seen this quarter, we’re at 622 transactions for the first quarter of 2021 in comparison to 434 in the first quarter of last year. So, we’re actually up 43%.
When we’re looking at days-on-market last month, we saw we’re averaging about 11 days-on-market. In February, we’re at about 18, and in March of 2020, we’re again at about 18. So far this year to date, we’re averaging about 19 days-on-market in comparison to 26 in comparison to last year. Therefore, homes on average are selling for 37% quicker.
Looking at the average sale price for last month, we averaged a sale price of $586,000 in comparison to $619,000 in February, and in March of 2020, we’re at $459,000. Now, this is interesting. So far this year, year-to-date, we’re sitting at about $575,000 average sale price in Kingston in comparison to the first quarter of 2020, where we saw $448,000. Therefore, on average, the sale price has increased 28%, or that’s equivalent to $127,000. That’s wild but what we’re seeing here is more transactions, higher average selling prices, and less days-on-market, of course, on average across the city.
That is it for this month’s recap. If you have any questions about this video or anything else that we put out, feel free to reach out and be sure to visit our website: quaresmagroup.com.
Until then, stay safe, support local, and we will talk to you next month. Thank you.