Kingston and Area Real Estate Association

The number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 317 units in May 2026. This was a substantial decline of 18.7% from May 2025.

Home sales were 16% below the five-year average and 23.6% below the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 1,058 units over the first five months of the year. This was a significant decrease of 11.7% from the same period in 2025.

“Sales activity dropped off sharply on a monthly basis as winter came to a close and hasn’t recovered as of yet, despite historically elevated levels of new supply coming onto the market,” said Luca Andolfatto, President of the Kingston and Area Real Estate Association. “Our market balance has moved into buyer’s territory and inventories are on the rise, but that hasn’t pulled demand back into the market. It’s possible with the introduction of the new GST/HST rebates from both the federal and provincial governments that some buyers have shifted into the new home market for the time being.”

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 $545,800 in May 2026, edging up 0.3% compared to May 2025.

The benchmark price for single-family homes was $572,000, up only 0.6% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $394,800, down by 5.4% compared to a year earlier, while the benchmark apartment price was $341,700, a decrease of 8.4% from year-ago levels.

The average price of homes sold in May 2026 was $639,295, nearly unchanged, up only 0.2% from May 2025.

The more comprehensive year-to-date average price was $605,501, a minor decrease of 3.3% from the first five months of 2025.

The dollar value of all home sales in May 2026 was $202.7 million, a big reduction of 18.6% from the same month in 2025.

The number of new listings edged down 0.7% (six listings) from May 2025. There were 915 new residential listings in May 2026.

New listings were 5.2% above the five-year average and 18.5% above the 10-year average for the month of May.

Active residential listings numbered 1,437 units on the market at the end of May, down only 0.8% (11 listings) from the end of May 2025.

Active listings were 26.2% above the five-year average and 40.5% above the 10-year average for the month of May.

Months of inventory numbered 4.5 at the end of May 2026, up from the 3.7 months recorded at the end of May 2025 and above the long-run average of 2.6 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.