Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 135 units in December. This was up nine per cent from a year earlier.
Sales of all types of properties numbered 151 units in December, also up nine per cent on a year-over-year basis.
On an annual basis sales numbered 3,165 units in 2013 down five per cent from 2012.
“A decent second half of the year for sales activity in the region was not enough to offset a slow start to 2013, with the annual sales figure coming in below the 2012 total but about in line with 2010 and 2011,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “Continuing the trend from the past four years, prices advanced by a little more than three per cent in 2013.”
The average price for homes sold through the Association’s MLS® System in December 2013 was $276,498, up 1.3 per cent from December 2012.
The average price of all home sales in 2013 was $279,339 an increase of 3.4 per cent from 2012. This was the highest annual average price on record.
There were 211 new residential listings on the Association’s MLS® System in December 2013, up five per cent on a year-over-year basis.
Overall supply levels are on the rise. Active residential listings on the Association’s MLS® System numbered 1,188 units at the end of December, up 23 per cent from the same month in 2012.
There were 8.8 months of inventory at the end of December 2013, up from 7.8 months at the end of December 2012 but still below the long-run average for this time of the year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The value of all home sales was $37.3 million in December 2013, up 10 per cent from a year earlier. The total value of all property sales rose 11 per cent from a year earlier to $40.9 million in December.
The information contained in this report has been prepared by
The Canadian Real Estate Association, in co-operation with the Kingston and Area Real Estate Association.
The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed.
In providing this information, neither The Canadian Real Estate Association nor
the Kingston and Area Real Estate Association assumes any responsibility or liability.
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