Kay Langmuir
Sales Representative
Read Kay Langmuir's Blog Contact Kay Langmuir Go to Kay Langmuir's Website Follow Kay Langmuir on Facebook
Follow Kay Langmuir on Twitter Follow Kay Langmuir on LinkedIn

2012 Real Estate Snapshot for Kingston North and East

Updated Thursday, February 14, 2013  ::  Views (4663)

 NORTH AND EAST

 Rideau Heights/Markers Acres

    As of last year, Kingston no longer has a neighborhood with an average price under $200,000. This northeasterly corner was the last bastion of true affordability in Kingston. Average sale price in 2012 was $202,000. With $10,000 down, a house like this carries for $900 a month.

    The high percentage of rentals on some streets, and the low-income renters attracted to this area, have given the neighborhood some baggage to carry. But the steady appreciation in prices here indicates two things: there is always a pressing demand for affordable homes, and buyers know there are many pleasant streets of well-kept homes in this area.

   This neighborhood is also the closest to continuing major commercial/retail development along Division Street immediately south of the 401.

 Kingston East - Barriefield, Barrett Court, Grenadier Village,  Point St. Mark, MacLean Park, Greenwood Park East/West

   The real estate trends on the east side are often buffeted by the timing and extent of new military postings that can affect housing demand at certain times of the year. Last year was comparatively slow, with only 62 per cent of listings sold. The ratio is usually closer to or exceeding 70 per cent sold. But there is also competition from new builds in the developing Greenwood Park West subdivisions bordering the Cataraqui River. Last year’s listings total of 388 was the highest ever for the area.

 Still, the regular turnover here keeps appreciation buoyant. Appreciation has dependably stayed between 5.5-6.5 per cent over the past three years.

  These figures do not include the neighborhoods along Highway 2 east of CFB Kingston. Averages here impart no useful information as the figures are based mostly on the upscale neighborhoods bordering the St. Lawrence, and are easily  thrown off by one or more high-priced waterfront sales, or lack thereof.

 

 

Add a Comment

Fields marked with "*" are required to process your form.
Your Name
*
Email Address (will never be shown)
*
Website
Comment

Allowed XHTML tags : a, b, i, strong, code, acrynom, blockquote, abbr. Linebreaks will be converted Automatically.

CAPTCHA Image