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.
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