Kingston and Area Real Estate Association

he number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 177 units in March 2025. This was a substantial decline of 21.3% from March 2024.

Home sales were 40.6% below the five-year average and 34.2% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 502 units over the first three months of the year. This was a significant decrease of 12.2% from the same period in 2024.

“Buyers are stepping off to the sidelines in even greater numbers in response to the uncertainty surrounding the trade war, with home sales down to their lowest March levels since 2016,” said Mary Ambrose, President of the Kingston and Area Real Estate Association. “Recent tariff decisions by the U.S. Administration refrained from adding new restrictions on Canada, maintaining the focus on existing tariffs for steel and aluminum alongside the newly declared ones for auto imports. This might come as a relief to consumers bracing for heavier measures, yet some degree of market uncertainty may remain as buyers assess their options.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $580,800 in March 2025, increasing by 5.3% compared to March 2024.

The benchmark price for single-family homes was $595,900, a gain of 5.4% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $522,900, up modestly by 1% compared to a year earlier, while the benchmark apartment price was $436,700, an increase of 4.8% from year-ago levels.

The average price of homes sold in March 2025 was $643,473, nearly unchanged, up only 0.7% from March 2024.

The more comprehensive year-to-date average price was $620,922, a minor increase of 2.6% from the first three months of 2024.

The dollar value of all home sales in March 2025 was $113.9 million, a big reduction of 20.8% from the same month in 2024.

The number of new listings saw a substantial decline of 18.6% from March 2024. There were 509 new residential listings in March 2025.

New listings were 9.2% below the five-year average and 0.3% below the 10-year average for the month of March.

Active residential listings numbered 966 units on the market at the end of March, a modest decline of 2.9% from the end of March 2024.

Active listings were 49.3% above the five-year average and 41.2% above the 10-year average for the month of March.

Months of inventory numbered 5.5 at the end of March 2025, up from the 4.4 months recorded at the end of March 2024 and above the long-run average of 3 months for this time of year. 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.