T
he number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 168 units in February 2025. This was a large decline of 15.2% from February 2024.
Home sales were 24.7% below the five-year average and 12.3% below the 10-year average for the month of February.
On a year-to-date basis, home sales totaled 320 units over the first two months of the year. This decreased by 7.8% from the same period in 2024.
“Home sales and new listings were both down in February from the previous month after adjusting for seasonality, likely an indication of the uncertainty surrounding the impending tariffs,” said Mary Ambrose, President of the Kingston and Area Real Estate Association. “As of March 4, those tariffs have come to pass, and the U.S. has engaged in a trade war with Canada. It is likely that many buyers and sellers will withdraw to the sidelines in the near future as they await the impact this trade war will have on the economy and their jobs. It is everyone’s hope that the situation can be resolved as swiftly as possible, but in case that it is not we may be looking at more subdued activity in our local market over the remainder of this year.”
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 $586,900 in February 2025, increasing by 8.1% compared to February 2024.
The benchmark price for single-family homes was $607,100, a gain of 9.4% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $520,600, nearly unchanged, up only 0.3% compared to a year earlier, while the benchmark apartment price was $417,400, essentially unchanged, up just 0.2% from year-ago levels.
The average price of homes sold in February 2025 was $619,017, a gain of 5% from February 2024.
The more comprehensive year-to-date average price was $611,860, up by 4.8% from the first two months of 2024.
The dollar value of all home sales in February 2025 was $104 million, a substantial decrease of 10.9% from the same month in 2024.
The number of new listings saw a moderate decrease of 7.1% from February 2024. There were 393 new residential listings in February 2025.
New listings were 1% above the five-year average and 11.7% above the 10-year average for the month of February.
Active residential listings numbered 855 units on the market at the end of February, increasing by 8% from the end of February 2024. Active listings haven’t been this high in the month of February in a decade.
Active listings were 57.7% above the five-year average and 48.6% above the 10-year average for the month of February.
Months of inventory numbered 5.1 at the end of February 2025, up from the 4 months recorded at the end of February 2024 and above the long-run average of 3.4 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 nearly 9 years now and work under the Sutton Group Masters Realty Inc., Brokerage. I especially like working with first-time buyers & sellers 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 to me by phone or email 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