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.
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