Kingston and Area Real Estate Association

The number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 265 units in April 2025. This was a substantial decrease of 18.2% from April 2024.

Home sales were 25.5% below the five-year average and 17.2% below the 10-year average for the month of April.

On a year-to-date basis, home sales totaled 790 units over the first four months of the year. This was a large decline of 11.8% from the same period in 2024.

“There’s been a very pronounced departure from the recovery that was taking place up until the beginning of this year,” said Mary Ambrose, President of the Kingston and Area Real Estate Association. “While demand continues to dwindle, new listings are still on the rise as sellers engage in more aggressive repricing strategies in an attempt to attract the buyers still remaining in the market. The balance has tilted down to being in favour of buyers and MLS® Benchmark Price gains are moderating, which presents ample opportunities for any home buyers still in the game.”

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 $571,100 in April 2025, a small gain of 1.9% compared to April 2024.

The benchmark price for single-family homes was $591,600, increasing by 2.9% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $474,500, a sharp decrease of 10.8% compared to a year earlier, while the benchmark apartment price was $422,600, nearly unchanged, up only 0.3% from year-ago levels.

The average price of homes sold in April 2025 was $625,184, decreasing by 5.8% from April 2024.

The more comprehensive year-to-date average price was $621,097, down only 0.9% from the first four months of 2024.

The dollar value of all home sales in April 2025 was $165.7 million, down sharply by 23% from the same month in 2024.

The number of new listings saw a decrease of 7.9% from April 2024. There were 707 new residential listings in April 2025.

New listings were 4.6% above the five-year average and 20.8% above the 10-year average for the month of April.

Active residential listings numbered 1,253 units on the market at the end of April, a moderate gain of 5.5% from the end of April 2024. Active listings haven’t been this high in the month of April in a decade.

Active listings were 56.6% above the five-year average and 55.3% above the 10-year average for the month of April.

Months of inventory numbered 4.7 at the end of April 2025, up from the 3.7 months recorded at the end of April 2024 and above the long-run average of 2.8 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.