Homes sales are heating up this spring in Portsmouth District!
Sales in the area south of Bath and west of Sir John A, are among the strongest in the city so far this year.
Portsmouth District has the highest percentage of sold listings in all of Kingston – yet the number of listings is more than double that of last year.
In 2011, there were 14 single-family residential sales in the district during the first four months. This year there have been 36.
Last year at this time, only 54 per cent of listings had sold, after spending an average of 50 days on the market.
This year, 75 per cent of listings have sold, after spending an average of only 37 days on the market. By comparison, the average ratio of listed-to-sold properties city-wide this year is 55 per cent.
Portsmouth District’s average sale price in the past 12 months - $299,930 represents a fractional increase in price when compared to the previous 12 months.
But the average sale price this April, based on 11 sales that month, rose a healthy 13 per cent above the 12-month average to $338,891.
By comparison, the long coveted south-of-Johnson area managed only five residential sales in April – 38 per cent of listings – with an unusually weak average sale price of $289,400.
Could it be that the overheated prices in the Queen’s area and ongoing concerns with “studentification” of the neighborhoods is increasing the appeal of Portsmouth District?
I live here too and I keep a close eye on my neighborhood!
Any questions? I’m happy to answer them, or leave a comment on this blog.
This Portsmouth District report on single-family residential sales will be updated each month on my website in order to give you the latest and most accurate picture to help you make your real estate decisions.