KINGSTON HOUSING TRENDS

Did you or someone you know have a difficult time finding a rental space in Kingston this past year? You’re not alone! Housing trends in the Limestone City indicated a low housing inventory paired with a growth in the number of buyers/renters looking for a place to settle down. Here are some interesting facts about Kingston’s housing market in 2018:

• The average residential sale price rose almost 16% since 2017 with the average sale price being $367,780.
• Kingston’s west and east ends became highly sought after neighbourhoods due to new developments.
• The condo market was driven by retirees and the average condo price rocketed up 23% since 2017.
• First-time home buyers were typically young couples who purchased single-detached homes, townhouses, as well as condos, in the price range of $250-350,000.
• Luxury homes were mostly purchased by move-up buyers for between $750,000-$2,000,000.
• The Kingston market was dominated by buyers from larger urban areas who sought affordable housing and good value.
• Fewer housing units were sold this year compared to 2017 – the lower inventory caused a seller’s market where prices gradually rose.

Pay attention to rental units advertised on Panadew’s Facebook page, as well as our website (www.panadew.ca/available-rentals) to find out about available units as soon as they’re available! Don’t hesitate before it’s too late!

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