T
he number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 397 units in May 2025. This was an increase of 6.1% from May 2024.
Home sales were 6.2% below the five-year average and 8.4% below the 10-year average for the month of May.
On a year-to-date basis, home sales totaled 1,195 units over the first five months of the year. This was a moderate decrease of 5.2% from the same period in 2024.
“Sales activity has generally remained at relatively subdued levels ever since interest rates went up in 2022, although the trend since then has been fairly stable,” said Mary Ambrose, President of the Kingston and Area Real Estate Association. “There’s two sides to the coin on stability – activity hasn’t yet shown signs of improvement, but it also hasn’t been worsening as is the case in some other markets in the province. New listings have been coming online at historically strong levels over the past few years and this has elevated overall inventories to levels unseen since early 2017. With demand fairly constant, rising supply has softened our market balance to the point where we are now flirting with buyer’s market territory.”
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 $559,100 in May 2025, unchanged compared to May 2024.
The benchmark price for single-family homes was $580,800, up modestly by 1.6% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $485,800, a decrease of 9.2% compared to a year earlier, while the benchmark apartment price was $392,500, a moderate decrease of 9.3% from year-ago levels.
The average price of homes sold in May 2025 was $640,775, increasing by 1.2% from May 2024.
The more comprehensive year-to-date average price was $622,794, a modest decline of 1% from the first five months of 2024.
The dollar value of all home sales in May 2025 was $254.4 million, up by 7.5% from the same month in 2024.
The number of new listings was essentially unchanged, up just 0.9% (eight listings) from May 2024. There were 944 new residential listings in May 2025. This was the largest number of new listings added in the month of May in a decade.
New listings were 8.5% above the five-year average and 18.5% above the 10-year average for the month of May.
Active residential listings numbered 1,446 units on the market at the end of May, a moderate gain of 4.7% from the end of May 2024. Active listings haven’t been this high in the month of May in more than five years.
Active listings were 46% above the five-year average and 30.5% above the 10-year average for the month of May.
Months of inventory numbered 3.6 at the end of May 2025, down from the 3.7 months recorded at the end of May 2024 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.
Information obtained from the Kingston and Area Real Estate Association (karea.ca)
If you are considering buying or selling in Kingston and would like more information or have any questions, feel free to reach out by phone, text or email. I have been working as a Realtor in Kingston for 9 years now and work under the Sutton Group Masters Realty Inc., Brokerage. I particularly like working with first-time buyers & sellers of resale homes and clients interested in buying or selling condominiums. I was born and raised in Kingston and know the city and local real estate market very well. If you are considering a move in 2025 please reach out and I will answer any real estate questions you may have. I look forward to hearing from you.
Kim Purcell - Kingston Real Estate Agent
Sutton Group Masters Realty Inc., Brokerage
1650 Bath Road
Kingston, ON K7M 4X6
613-985-9371
kpurcell@sutton.com