Kingston and Area home sales pop up in August

Aug2015StatsHome sales recorded through the MLS® System of the Kingston and Area Real Estate Association posted a double digit year-over-year increase in August 2015.

Residential property sales numbered 297 units in August, up 13.4 per cent from the same month a year earlier. On a year-to-date basis home sales are currently running almost seven per cent ahead of the first eight months of 2014.

“August was an above average month for home sales in the Kingston area, not record breaking but an improvement from earlier this year,” said Jack Green, President of the Kingston and Area Real Estate Association. “Meanwhile, the average sales price this year is running more than three per cent ahead of 2014.”

The average price for homes sold through the Association’s MLS® System in August 2015 was $280,234, up 6.4 per cent from August 2014. The less volatile year-to-date average sale price was $294,338, an increase of 3.1 per cent from the first eight months of 2014.

There were 725 new residential listings on the Association’s MLS® System in August 2015, down 9.9 per cent on a year-over-year basis.

Active residential listings on the Association’s MLS® System numbered 2,204 units at the end of August, down 6.8 per cent from the end of August 2014.

There were 7.4 months of inventory at the end of August 2015, down from nine months at the end of August 2014 and on par with 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 $83.2 million in August 2015, an increase of 20.6 per cent from a year earlier. This was the highest August on record.

Sales of all types of properties numbered 335 units in August, climbing 12.4 per cent on a year-over-year basis. The total value of all property sales jumped 25.6 per cent from a year earlier to $95 million in August.


Kingston and Area home sales, new listings rise in October

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association were up on a year-over-year basis in October 2014.

Residential property sales numbered 250 units in October, rising 16.3 per cent from the same month last year.

“The 250 homes that changed hands in October 2014 made for the strongest October sales figure for Kingston and surrounding areas in seven years,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “At the same time, the amount of product on the market has risen sharply since the spring, and that appears to have put a lid on price increases for now.”

The average price for homes sold through the Association’s MLS® System in October 2014 was $270,161, down 4.4 per cent from October 2013. The less volatile year-to-date average price was $283,029, up 1.6 per cent from the first 10 months of 2013.

There were 585 new residential listings on the Association’s MLS® System in October 2014, an increase of 10.4 per cent on a year-over-year basis. This was a record for new supply in the month of October.

Overall supply has risen sharply in recent months following a dip at the start of the year. Active residential listings on the Association’s MLS® System numbered 2,122 units at the end of October, up 27.3 per cent from the same month in 2013. This was the highest level for this time of the year in more than 15 years.

There were 8.5 months of inventory at the end of October 2014, up from 7.8 months at the end of October 2013 and above 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 $67.5 million in October 2014, an increase of 11.1 per cent from a year earlier. This was a record for the month of October.

Sales of all types of properties numbered 286 units in October, up 18.2 per cent on a year-over-year basis. The total value of all property sales rose 16.0 per cent from a year earlier to $75.6 million in October.

 


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Kingston and Area home sales edge up year-over-year in September





Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association was little changed on a year-over-year basis in September 2014.

Residential property sales numbered 251 units in September, edging p 1.6 per cent from the same month last year.

“September turned in another solid performance, with home sales running roughly in line with both the five and 10-year averages for the month,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “The same cannot be said of supply, which has risen sharply just over the past five months. This has given buyers more of an advantage in negotiations and may be starting to put the brakes on price increases.”

The average price for homes sold through the Association’s MLS® System in September 2014 was $274,387, little changed (-$216) from September 2013. The year-to-date average price was $284,357, up 2.2 per cent from the first three quarters of 2013.

There were 719 new residential listings on the Association’s MLS® System in September 2014, jumping 26 per cent on a year-over-year basis. This was a record for new supply in the month of September.

Overall supply has risen sharply in recent months following a dip at the start of the year. Active residential listings on the Association’s MLS® System numbered 2,328 units at the end of September, up 29 per cent from the same month in 2013. It was also the highest level for this time of the year since 1997.

There were 9.3 months of inventory at the end of September 2014, up from 7.3 months at the end of September 2013 and above 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 $68.9 million in September 2014, an increase of 1.5 per cent from a year earlier.

Sales of all types of properties numbered 290 units in September, up 3.6 per cent on a year-over-year basis. The total value of all property sales rose 6.4 per cent from a year earlier to $78.3 million in September.

 


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Kingston and Area home sales remain solid in July

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 334 units in July, down five per cent from a year earlier.

“Home sales in July were down slightly from strong levels in the same month last year, but came in above the five-year average for the month and right in line with the 10-year average,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “The real story though is that following a pretty quiet start to the year the buyers were back in June and that trend continued in July.”

The average price for homes sold through the Association’s MLS® System in July 2014 was $284,282, an increase of four per cent from July 2013.

There were 768 new residential listings on the Association’s MLS® System in July 2014, rising 12 per cent on a year-over-year basis. This was a record for new supply in the month of July.

Overall supply has risen sharply in recent months. Active residential listings on the Association’s MLS® System numbered 2,312 units at the end of July, up 17 per cent from the same month in 2013.

There were 6.9 months of inventory at the end of July 2014, up from 5.6 months at the end of July 2013 and above 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 $95 million in July 2014, edging down one per cent from a year earlier.

Sales of all types of properties numbered 373 units in July, down three per cent on a year-over-year basis. The total value of all property sales increased two per cent from a year earlier to $104.6 million in July.

 


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

 

Kingston and Area home sales up in June

Kingston June Residential Sales Activity

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 385 units in June, up 18 per cent from a year earlier.

“Following a quiet April and May, home sales picked up noticeably in June,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “Meanwhile, new listings posted a second straight double-digit year-over-year increase, giving prospective buyers more options compared to just a few months ago.”

The average price for homes sold through the Association’s MLS® System in June 2014 was $287,738, an increase of 1.7 per cent from June 2013.

There were 832 new residential listings on the Association’s MLS® System in June 2014, rising 17 per cent on a year-over-year basis. This was a record for new supply in the month of June.

Overall supply has risen sharply in recent months. Active residential listings on the Association’s MLS® System numbered 2,344 units at the end of June, up 15 per cent from the same month in 2013 and a 16-year high for active supply at this time of the year.

There were 6.1 months of inventory at the end of June 2014, little changed from 6.3 months at the end of June 2013 and slightly 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 $110.8 million in June 2014, up 20 per cent from a year earlier.

Sales of all types of properties numbered 415 units in June, up 12 per cent on a year-over-year basis. The total value of all property sales increased 15 per cent from a year earlier to $117.1 million in June.


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

New Record for Kingston and Area average price

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 370 units in May, down 16 per cent from a year earlier.

“Home sales continued to run at lower levels in May while new supply almost set a record,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “Despite this rebalancing of market conditions the average price has shown no signs of softening. It actually topped the $300,000 mark for the first time ever in May, although at least part of that reflects the fact that the biggest sales declines this May were seen in the $200,000 to $250,000 range. That serves to give more weight in the calculation of the average to homes selling at the higher end, and that boosts the average selling price.”

The average price for homes sold through the Association’s MLS® System in May 2014 was a record $302,872, an increase of six per cent from May 2013.

There were 1,009 new residential listings on the Association’s MLS® System in May 2014, rising 17 per cent on a year-over-year basis. This was the highest level for the month on record and only the second time new supply had risen above 1,000 units.

Overall supply levels remain elevated. Active residential listings on the Association’s MLS® System numbered 2,278 units at the end of May, up 12 per cent from the same month in 2013.

There were 6.2 months of inventory at the end of May 2014, up from 4.6 months at the end of May 2013 and above 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 $112.1 million in May 2014, falling 11 per cent from a year earlier.

Sales of all types of properties numbered 408 units in May, down 15 per cent on a year-over-year basis. The total value of all property sales declined 12 per cent from a year earlier to $118.9 million in May.


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

 

Quiet April for Kingston and area home sales

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 298 units in April. This was down 18 per cent from a year earlier.

“Home sales were running at lower levels over the first quarter of the year, and that trend continued to play out in April,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “While activity has quieted down in recent months, prices have shown no signs of softening. That continues to be the case despite a year-over-year decline in the average price in April. That decline was simply the result of a record-breaking jump in the measure last April, not the start of a new trend now.”

The average price for homes sold through the Association’s MLS® System in April 2014 was $283,232, a decrease of 3.9 per cent from April 2013.

There were 877 new residential listings on the Association’s MLS® System in April 2014, down 14 per cent on a year-over-year basis As with sales, new listings have also been running at lower levels in recent months.

Overall supply levels remain above last year’s levels, although they have been trending lower compared to the end of 2013. Active residential listings on the Association’s MLS® System numbered 1,979 units at the end of April, up just three per cent from the same month in 2013.

There were 6.6 months of inventory at the end of April 2014, up from 5.3 months at the end of April 2013 and above 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 $84.4 million in April 2014, falling 21 per cent from a year earlier.

Sales of all types of properties numbered 346 units in April, down 14 per cent on a year-over-year basis. The total value of all property sales declined 20 per cent from a year earlier to $93.3 million in April.


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Kingston home sales and new listings down, average price up in March

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 226 units in March. This was down 10 per cent from a year earlier.

“Home sales in the region remained at lower levels in March, although still up from the beginning of the year,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “Scratching the surface, it turns out the bulk of the year-over-year decline in March sales was focused in the price range from $200K to $250K, while activity priced above $500K saw a considerable uptick compared to the same month last year. As a result of this compositional change, the average home price in the region posted a double digit increase and set a new monthly record.”

The average price for homes sold through the Association’s MLS® System in March 2014 was a record $294,895, an increase of 13 per cent from March 2013.

There were 643 new residential listings on the Association’s MLS® System in March 2014, down five per cent on a year-over-year basis. New listings have slowed sharply in the past two months.

Overall supply levels remain above last year’s levels, although they have been trending lower compared to the end of 2013. Active residential listings on the Association’s MLS® System numbered 1,666 units at the end of March, up seven per cent from the same month in 2013.

There were 7.4 months of inventory at the end of March 2014, up from 6.2 months at the end of March 2013 and above 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 $66.6 million in March 2014, edging up one per cent from a year earlier.

Sales of all types of properties numbered 252 units in March, down nine per cent on a year-over-year basis. The total value of all property sales edged up two per cent from a year earlier to $70.9 million in March.


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Kingston home sales show little change in February

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 176 units in February. This was down 2.8 per cent (five sales) from a year earlier.

“Home sales in the region dropped sharply in January but regained most of that lost ground in February,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “Meanwhile, new listings edged back in February, which brought the market back into better balance.”

The average price for homes sold through the Association’s MLS® System in February 2014 was $274,834, almost unchanged (+$272) from February 2013.

There were 499 new residential listings on the Association’s MLS® System in February 2014, down nine per cent on a year-over-year basis.

Overall supply levels remain above last year’s levels, although they have trended lower compared to the end of 2013. Active residential listings on the Association’s MLS® System numbered 1,454 units at the end of February, up eight per cent from the same month in 2013.

There were 8.3 months of inventory at the end of February 2014, up from 7.4 months at the end of February 2013 and still above 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 $48.4 million in February 2014, down three per cent from a year earlier.

Sales of all types of properties numbered 185 units in February, down 12 per cent on a year-over-year basis. The total value of all property sales dipped eight per cent from a year earlier to $5.9 million in February.

 


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Slow start to 2014 for Kingston home sales

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 119 units in January. This was down 19 per cent from a year earlier.

Sales of all types of properties numbered 131 units in January, also down 19 per cent on a year-over-year basis.

“January was a bit of a slow month for home sales in the Kingston area,” said Liza Tallen, President of the Kingston and Area Real Estate Association. “That said, as in many parts of Ontario the decline in sales in January was likely just a weather story, so we could easily see some of that deferred demand showing up in the months ahead and giving a boost to the spring market.”

The average price for homes sold through the Association’s MLS® System in January 2014 was $280,186, up 1.8 per cent from January 2013.

There were 586 new residential listings on the Association’s MLS® System in January 2014, up two 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 1,345 units at the end of January, up 14 per cent from the same month in 2013.

There were 11.3 months of inventory at the end of January 2014, up from eight months at the end of January 2013 however this exactly matched 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 $33.3 million in January 2014, down 18 per cent from a year earlier. The total value of all property sales dipped 14 per cent from a year earlier to $38 million in January.


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.
Copyright © 2014 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.