This month, our Kingston Real Estate Market – September 2023 takes you to Parrot’s Bay, a breathtaking trail west of Kingston. As the leaves shift into vibrant shades of orange, red, and yellow, it provides a serene natural backdrop. Don’t miss the chance to embrace the season’s change by taking a peaceful stroll through this beautiful landscape.
Kingston Real Estate Market Stats – September 2023
- September’s residential transactions totalled 100, down from the 112 recorded in August.
- Year-to-date transactions stood at 1,263, representing a 17% decline compared to the same period last year.
- The average time properties spent on the market in September increased to 29 days, up from 27 days in August.
- Year-to-date, the average time on the market was 27 days, marking an 88% increase from the previous year.
- Kingston reported an average sale price of $563,000 in September, significantly lower than the $683,000 average in August.
- Year-to-date, the average sale price was $631,000, reflecting a 6% decrease compared to the same period last year.
- The month ended with five months of inventory, up one month from August, and year-to-date, the average was three months, double the figure from the previous year.
- September’s real estate market continued the trend of declining residential transactions, indicating a potential shift in market dynamics.
- The increase in the average days on the market suggests that properties are taking longer to sell, potentially due to decreased demand.
- The significant drop in the average sale price further underscores this shift.
- With five months of inventory, the market appears to be transitioning towards a buyer’s market, offering advantages to those looking to buy. However, sellers may need to be patient and provide competitive pricing to attract buyers.
- These trends emphasize the importance of considering your unique circumstances and perspective when assessing the real estate market.
That concludes our Kingston Real Estate Market Update for September 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.
