The average price for a home in Kingston increased 3.4 per cent in the past 12 months – the first time in three years that the annual increase has been above three per cent.
This works out to just over $10,000 on a $300,000 home.
By comparison, the annual price appreciation nationally during the same time period, (excluding Toronto and Vancouver) was 2.5 per cent.
Prices and sales are holding up well in our area considering the substantial rise in listings.
Just 44 per cent of Kingston properties listed in the past 12 months have sold. But that still qualifies as a balanced market.
A successful seller will take a competitive attitude , and price as accurately as possible – and that’s where your Realtor® can help!
The average price of a single detached home in Kingston is currently $321,500. (This figure includes properties within the city limits plus Amherstview).
Price appreciation should be considered in relation to housing depreciation of 1.5 per cent per year, and a current inflation rate in 2015 of just over one per cent.
FAST FACTS - A Kingston residential property on average takes 47 days to sell.
The average price for a condo in downtown Kingston is $445,000
Successful sellers in Kingston get an average of 97.5 per cent of their listing price.
FIVE YEAR APPRECIATION RATES -
Downtown Kingston - 22 %
North Kingston - 10%
Kingston West - 10-13%
Southwest Kingston - 13%
Need advice on a purchase or sale? Let my insights into the market help you make the most profitable move!