This year saw a return to the typical August real estate activity around these parts, as people enjoyed the last chance to vacation with family and begin preparing for the new school year as well. So, it was not that surprising to see sales and active listings were down compared to the month before and compared to last year.
For those of you who love the actual numbers, residential sales for the Entire Board were down 8% (324) for the month compared to last year, while active listings were down 7% (1629). For the Kingston City Limits, residential sales were actually down 16% (150) and only saw 630 active listings (a dip of 5% compared to a year ago). This means that it is still a seller’s market but is perhaps showing some hints of possibly balancing out a bit in the near future.
The biggest drop in sales compared to last August were in semi-detached and townhouses with only half as many sales combined (20 vs 40). Condominiums saw the largest percentage spike last month (80%) with 18 sold compared to only 10 the year before, despite a 17% further drop in active condo listings (yep, decent condos priced fairly are still the hottest ticket in town at the moment).
Year-To-Date numbers show Kingston residential sales as of the end of August sitting at 1473 (down 13%) and active listings for the year at 2388 (down 14%). This is the same trend seen by the Entire Board as a whole as well.
Curious to know about your particular neighbourhood and what the average sale price was in your neck of the woods? Give us a shout any time, we’re always happy to help!