Competitively priced homes have been selling quickly for quite some time now. As a matter of fact, for the entire board (Kingston, Gananoque, Napanee, Frontenac County, Lennox and Addington, the Islands) over the last year the average time on market was a mere thirty six days, and the average sale price was $382,000.
If we break things out a little more we start to get a better sense of just how hot the Kingston market is (and has been) compared with its surroundings.
In Kingston for the months of JULY, AUGUST and SEPTEMBER (so far):
Average sold price = $417,530
Average days on market = 28
For the rest of the board the numbers over the same period were as follows:
Average sold price = $338,894
Average days on market = 42
Interestingly, what’s currently listed for sale doesn’t look anything similar to the numbers above for SOLD properties.
Active listings In Kingston:
Average sale price = $546,548
Average days on market = 99
For the rest of the board the numbers over the same period were as follows:
Average sale price = $535,354
Average days on market = 78
There’s a lot we can take away from these numbers. Here are a few thoughts:
1. If you’ve got a home to sell for under $500,000, there’s probably never been a better time to list.
2. If you’re looking to buy a home listed for over $500,000 there may actually be a few deals to be had. (If you’re selling a home for over $500,000 now may still be a great time to list – it’s just important to get the price and marketing right)
3. If you’re looking to buy a home for under $500,000 get your paperwork together, and get ready to pounce when the right place comes along.
If you’d like to learn more and/or have questions for us please don’t hesitate to get in touch…we love talking about this stuff!
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