KINGSTON REAL ESTATE MARKET RECAP – April 2020

Hey everyone, I thought I would jump on here for a quick video kind of sharing some recent market statistics as it relates to April 2020.

So, obviously, we know what’s happening out there in the market given the pandemic. A question we get a lot is, you know: how’s the market performing? What’s going on out there? So, I thought I’d do this video kind of summarizing that.

As you could probably imagine, new listings have gone down since the start of this. I mean April, in Kingston, we’ve seen 163 new listings, which is significantly even from last month. That goes to show that people that don’t need to list necessarily are not listing. General activity has gone down as well because buyers are kind of thinking the same: if we don’t need to buy, we’re not buying unless it’s a steal of a deal or for sure we need to buy, we need to get it down right now.

Also, days on market we’re at 23 days, which is slightly higher than last month but still looking positive. The average sale price in Kingston is $450,000. Yeah, I said that four hundred and fifty thousand, we’re actually up from last year and slightly up from March. With all things considering, that’s positive news. I think Kingston as a whole is doing a really good job with the necessary mandates that are in place. Same thing with agents that are in the marketplace. They are staying safe with showing and interacting with clients in any way we can: digital signatures, zoom meetings have become very popular, working from home offices (it’s kind of nice too).

I just want to send this quick update; I’ll try to be consistent on these every month to keep you updated as to how we keep looking during this pandemic. So, with that said, stay safe, have a good weekend.

I will talk to you soon.