Kingston and Area Real Estate Association

The number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 142 units in January 2025. This was a decline of 4.7% (seven sales) from January 2024.

Home sales were 5.3% below the five-year average and 5.8% above the 10-year average for the month of January.

“January sales came in at what might be described as a Goldilocks level, with figures nestled in right between the five and 10-year average for this month,” said Mary Ambrose, President of the Kingston and Area Real Estate Association. “New listings remain at very supportive levels for our local market, which is starting to take hold inside balanced territory. We’re not expecting any significant movements on the price side for now but overall our housing market is in a rather stable environment at the moment.”

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 $570,600 in January 2025, a moderate gain of 6.7% compared to January 2024.

The benchmark price for single-family homes was $588,200, increasing by 7.8% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $521,100, up only 0.3% compared to a year earlier, while the benchmark apartment price was $414,100, down modestly by 2.5% from year-ago levels.

The average price of homes sold in January 2025 was $615,115, an increase of 6.8% from January 2024.

The dollar value of all home sales in January 2025 was $87.3 million, increasing by 1.8% from the same month in 2024.

The number of new listings saw a modest decline of 1.1% (four listings) from January 2024. There were 376 new residential listings in January 2025.

New listings were 24.6% above the five-year average and 25.5% above the 10-year average for the month of January.

Active residential listings numbered 828 units on the market at the end of January, up by 14% from the end of January 2024. Active listings haven’t been this high in the month of January in a decade.

Active listings were 67.1% above the five-year average and 60.8% above the 10-year average for the month of January.

Months of inventory numbered 5.8 at the end of January 2025, up from the 4.9 months recorded at the end of January 2024 and above the long-run average of 4.2 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.