Homes Sales Edge Back in October

Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association numbered 215 units in October. This was down 14 per cent from a year earlier.

Sales of all types of properties numbered 242 units in October, down 15 per cent on a year-over-year basis.

“Sales activity fell back in September following a strong month of August, and it edged down a little further in October,” said Tim Barber, President of the Kingston and Area Real Estate Association. “The combination of a quieter month of October for sales this year and a strong month of October by historical standards last year served to stretch year-over-year comparison.”

The average price for homes sold through the Association’s MLS® System in October 2013 was $282,666, up five per cent from October 2012.

There were 530 new residential listings on the Association’s MLS® System in October 2013, up one per cent on a year-over-year basis.

Overall supply levels have risen in recent months. Active residential listings on the Association’s MLS® System numbered 1,667 units at the end of October, up 20 per cent from the same month in 2012.

There were 7.8 months of inventory at the end of October 2013, up from 5.6 months at the end of October 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 $60.8 million in October 2013, up down 10 per cent from a year earlier. The total value of all property sales rose 17 per cent from a year earlier to $65.2 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 © 2013 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

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