Home sales recorded through the MLS® System of the
Kingston & Area Real Estate Association
remained above year-ago levels for a fifth consecutive month
in April 2012, while the average price of those sales set a
new record.
Residential sales numbered 386 units in April, an
increase of seven per cent from the same month last year.
Sales of all types of properties numbered 417 units
in April 2012, up five per cent on a year-over-year
basis.
“Housing demand continues to outperform last year’s
sales figures, although April did see a bit of a slowdown from
the pace of sales in the first quarter,” said Al Sytsma,
President of the Kingston & Area Real Estate Association.
“New listings have kept pace with higher demand so the market
has remained well balanced. That said, we’re still seeing some
moderate price growth.”
The average price for homes sold through the
Association’s MLS® System in April 2012 was a record $279,310.
This was up three per cent compared to April
2011.
New listings on the Association’s MLS® System
numbered 853 units in April 2012, up eleven per cent from a
year earlier.
There were 1,729 active residential listings on the
Association’s MLS® System at the end of April, up seven per
cent from April 2011.
Months of inventory numbered 5.2 at the end of
April 2012 on a seasonally adjusted basis, up from 4.8 months
at the end of March. 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 $108 million in
April 2012, up 10 per cent from a year earlier. The total
value of all property sales increased 11 per cent on a
year-over-year basis to $116 million
.
