Gary Moran's Kingston Realty Team JUNE 2008 Newsletter
Hi everyone,
As I write this, summer holidays are about to start for all the school kids and I'm sure they are excited about their upcoming adventures.
On the real estate front it's been busy - the Kingston Real Estate Board area is still below last year's record number of transactions but the earlier gap is closing quite nicely. If you recall, at the end of March, we were lower by 16.7%, end of April, that figure had dropped to 12.2% and now we are only 4.9% down in number of transactions compared to last year at the end of May. If we look at the average number of transactions year-to-date for the past three years, then we are only about 3.4% below the 3 year average. I actually overheard a discussion this morning where a group of Realtors were complaining that the market was down in excess of 30% this year. Well, I'm sorry the figures from the Real Estate Board simply do not support that!
Prices continue up slightly with moderate increases over last year's average 3.6% for 2 storey, 4.4% for bungalows and 2.9% for condos. I have no explanation for the abnormal appearance of a high percentage increase in Other Residential that we also saw last month - so far I have not been able to determine the reason, but I do not believe that number to be correct.
STATISTICS |
| | | | | | | |
Entire Board Area (West Napanee/Bath to East Gananoque) |
| | Jan to May | Jan to May | Jan to May | Jan to May | Active Listings | Active Listings |
| | 2005 | 2006 | 2007 | 2008 | 31-May-07 | 31-May-08 |
| | | | | | | |
2-Storey | # Units Sold | 515 | 500 | 608 | 558 | 542 | 676 |
| Average Price | $219,695 | $250,320 | $249,911 | $262,603 | | |
| | | | | | | |
Bungalow | # Units Sold | 708 | 644 | 705 | 649 | 713 | 843 |
| Average Price | $197,812 | $208,408 | $214,681 | $233,035 | | |
| | | | | | | |
Other | # Units Sold | 275 | 310 | 304 | 236 | 317 | 372 |
Residential | Average Price | $176,275 | $189,162 | $196,775 | $219,883 | | |
| | | | | | | |
Total | # Units Sold | 1498 | 1454 | 1617 | 1443 | 1572 | 1891 |
Days On Market | 51 | 54 | 54 | 60 | | |
| | | | | | | |
Condo | # Units Sold | 146 | 151 | 131 | 139 | 75 | 109 |
| Average Price | $136,655 | $163,050 | $159,236 | $169,107 | | |
Days On Market | 41 | 46 | 46 | 49 | | |
Inventory levels remain at all time highs - at 2000 active listings at the end of May it is still 21.4% higher than at the same time last year.
Directly related, of course, is the number of days on the market, up 11% from last year at 60 days.
For those considering selling their home, call my office at 613-389-4052 to arrange for a full presentation of all the marketing services we provide - just one example "The Talking House." has been getting our listings a lot of attention. Our multifaceted marketing program is designed to gain the greatest exposure of your property in the marketplace - exposure to qualified buyers is the key to selling quickly and for top dollar - call us today!
If anyone has any questions about our unique VIP Buyer Profile Service please give me a call at my home office 613-389-4052, for those at a distance call me toll free direct at 1-866-393-5762. This hassle free service could save you thousands!
If anyone would like to receive our special Video entitled "What you need to know before selling your home" simply call 613-389-4052 and ask for the free video to be sent to you. It could make you thousands!
Have a Great Day!
Regards,
Gary Moran, M.Sc.
KingstonRealtyTeam
sutton group-masters realty inc., Brokerage
Independently Owned and Operated
