Home sales recorded through the MLS® System of the
Kingston & Area Real Estate Association came in
well above year-ago levels in December 2011. The average price
of those sales was also up.
Residential sales numbered 151 units in December
2011. This was an increase of 17 per cent compared to December
of 2010. Sales of all types of properties numbered 177 units
in December 2011, up 25 per cent on a year-over-year
basis.
“Prices posted strong gains in almost every month
last year while sales in 2011 had been trailing 2010 levels by a
large margin until about the summer, but the acceleration in
demand in the second half of the year, particularly in the
past few months, managed to draw the annual sales figure for 2011 just about even with 2010,” said Al Sytsma,
President of the Kingston & Area Real Estate Association.
“Some 3,129 homes traded hands in 2011, down by less than one
per cent from 2010. The average price of those sales was
$261,968, up five per cent compared to the previous
year.”
The average price for homes sold through the
Association’s MLS® System in December 2011 was $272,015. This
was up eight per cent compared to December
2010.
New listings on the Association’s MLS® System
numbered 255 units in December 2011. This was a jump of 47 per
cent from a year earlier.
There were 915 active residential listings on the
Association’s MLS® System at the end of December, up 12 per
cent from December of 2010.
There were five months of inventory at the end of
December 2011 on a seasonally adjusted basis, unchanged
compared to October. 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 $41.1 million in
December 2011, up 26 per cent from levels a year earlier. The
total value of all property sales increased by 37 per cent to
$47.8 million on a year-over-year basis.
