KINGSTON REAL ESTATE MARKET RECAP – June 2020

Hey everyone, Jordan here again. It’s time for your monthly real estate update—this time for June 2020.

So, if you don’t remember from last report, we saw a little bit of a dip in certain categories from May. We were getting new listings, but average sale price for that given month kind of went down a little bit. Same with Days on market increased a little bit.

Well, I’m pleased to tell you, if you’re a seller, that the average sale price and days on market actually did the reverse for June. So, the average sale price for the month of June, get ready for it: $475,000. Crazy right?

Now, in May, we’re at 429; for that, we’re just doing the average per month, right?

So, the 479 that we have the average for June, that gives us a mark that we’re up 8% over last year; positive. Then, days on market actually dropped as well. So,, we went from 31 days on market for May down to 24 for June. So, June was a really, really active month, and not only that, in the month of May, we saw 258 new listings. Then, for the month of June, we saw 355.

So not only we’re getting more listings in the market, which again is positive, but we’re actually seeing higher sale price and also lower days on market. That means that those new listings are getting absorbed quickly, and that’s a positive sign on the market that we’re back at it.

So that is your quick monthly recap. If you want a copy of the PDF, feel free to reach out. I’d be happy to send it to you.

From there, if you’re a seller, that’s fantastic. If you’re a buyer, it’s going to be a little bit more competitive as we’ve seen in the past, I guess we can say, probably a few years. But, the market continues in Kingston; that’s a positive sign.

On that note, make sure you wear your mask when you’re out in the community. Enjoy, stay safe.

These reports will be back again, and I hope you enjoy them.

Thank you