July had a bit of a puzzle in it. Kingston's average sale price jumped over 9% in a single month, but the number of homes that actually sold dropped 16%. Those two numbers moving in opposite directions isn't random, and once you look past the headline figure, it makes a lot of sense. Meanwhile, in Loyalist Township, the average price pulled back even as competition for well-priced homes doubled — a good reminder that the headline number alone rarely tells the full story.
Here's a full breakdown of what actually happened in July 2026 across Kingston, Loyalist Township, Greater Napanee, South Frontenac, Stone Mills, and Gananoque — the real numbers, what's behind them, and what they mean if you're buying, selling, or investing in the region.
The Big Picture: A Balanced Market Taking a Summer Breather
Across the whole Kingston and Area Real Estate Association board, 309 homes sold in July — essentially flat compared to a year ago, down just 0.3%. The average price across the board came in at $658,437, up 7.4% year-over-year. On a seasonally adjusted basis, sales activity was actually up 8.4% from June, which is worth keeping in mind as we go through the individual communities: some of what looks like a monthly decline in the raw numbers is a normal seasonal pattern, not a market genuinely slowing down. July is typically one of our quieter months, as buyers and sellers head off to the cottage or on vacation, and this year was mostly no exception.
One number worth watching closely is months of inventory. We're sitting at 5.0 months right now, up slightly from 4.9 a year ago, and way up from just 1.1 months back in July 2021 at the height of the pandemic market. That's the clearest sign of how much more room buyers have today than they did a few years ago. The sales-to-new-listings ratio backs that up too, coming in at 43.5% this month — a fairly balanced reading compared to the high-70s we saw in July 2021.
What's Behind This Month's Numbers
A Sixth Straight Rate Hold
On July 15th, the Bank of Canada held its key interest rate steady at 2.25% — the sixth hold in a row. That kind of stability tends to keep buyers moving at a measured, steady pace rather than rushing in or pulling back sharply, and it shows up in this month's numbers: activity cooled a bit heading into summer, but nothing looks like a panic in either direction.
Kingston Recognized for Housing Growth
Kingston also picked up some good news on the supply side this month. The city was awarded $3.2 million from the province for exceeding its housing construction targets, part of the broader push to keep pace with population growth here. Homes priced under $750,000 have generally been selling more steadily than homes priced above that threshold, and that pricing dynamic helps explain some of what can look like conflicting price and volume signals in the community numbers below.
Community-by-Community Breakdown
Kingston
Kingston is where this month's headline number lives, so let's unpack it. Average sale price was up 9.1% over June and up 10.3% from a year ago — on the surface, that looks like a hot market getting hotter. But look at what else happened: transaction volume fell 16.0%, and average days on market for homes that sold jumped 38.5% in a single month. That combination — fewer sales, longer to sell, but a higher average price — usually means one thing: the mix of homes that closed this month shifted toward higher-priced properties, not that every home in Kingston suddenly got more valuable. In fact, 29 homes sold over $1 million in July, and eight of those sold over $2 million.
Kingston's average price is up just 0.2% year-to-date, so don't read July's 9% jump as the market suddenly repricing — it's a reflection of which homes happened to close this month. That lines up with the regional pattern mentioned above: homes under $750,000 are generally moving faster, so a month where fewer of those lower-priced homes closed will naturally pull the average up even without home values actually rising broadly. As always, that days-on-market figure only reflects homes that sold; it doesn't include listings still sitting active, which tend to be the ones priced too high.
Loyalist Township
Loyalist Township gives us an interesting contrast to Kingston. The average price actually pulled back 14.4% from June, but the share of homes that sold above their asking price more than doubled, from 7.9% to 20.7%. So fewer homes sold overall — transaction volume was down 23.7% from June — and the average price dropped, but the ones that did sell were more likely to spark competition. It’s not a coincidence that the 14% price drop is close to the 13% reduction in the HST on new-build homes - new builds are a significant portion of home sales in Loyalist. That tells us buyer demand for the right property in Loyalist hasn't gone anywhere; it's just concentrated on a smaller set of well-priced listings this month rather than spread across the whole market. The bottom line for sellers here: price it accurately and you can still see multiple offers, even in a slower month. For buyers, be ready to move quickly when the right listing shows up, because those are exactly the ones drawing competition.
One more thing worth flagging, and I'll say up front that this is anecdotal, not something showing up in the average price numbers yet: looking at individual sales rather than aggregate figures, I'm starting to see a handful of homes here that last sold in 2021 or 2022, near the peak of the market, coming back on the market now for less than what the owner originally paid. Loyalist has a fair amount of new-build inventory, and since the HST rebate on new homes only applies to new construction and not resale, some buyer demand is shifting toward those new builds, which can add pressure on comparable resale homes competing against them. Loyalist's year-to-date average price is basically flat, so this isn't a market-wide trend the numbers confirm — but at the individual sale level, it's a pattern worth watching, and it can be a sign that some sellers are under real financial strain.
Greater Napanee
Napanee is the market that bucked the summer slowdown. Transaction volume was up nearly 32% from June and slightly ahead of where it was a year ago too. But there's a catch, and it's a big one: average days on market for homes that sold jumped to 65 days — by far the longest of any market we cover this month. And it's not a one-month blip; Napanee's year-to-date average days on market is running 27.1% ahead of last year. Remember, that figure only counts homes that actually sold — it doesn't include listings still sitting active, so the real gap between well-priced and overpriced homes in Napanee is likely even wider than it looks. If you're selling in Napanee right now, pricing accuracy matters more here than almost anywhere else in the region. Homes are moving, but buyers are taking their time.
As with Loyalist, looking at individual sales rather than the averages, a portion of the homes trading in Napanee right now last sold back in 2021 or 2022, closing for less than the original purchase price. Napanee also has a good amount of new-build inventory, so the same dynamic applies — new construction is getting more competitive against resale. Napanee's year-to-date average price is actually up over 5%, so again, this isn't something the numbers confirm at a market level; it's an observation worth watching rather than a broad market trend.
South Frontenac
Cottage season keeps carrying South Frontenac. Average price is up 9.5% from a year ago, transaction volume is up 20.6% year-over-year, and homes are selling much faster than they did last July — average days on market is down 38.2% from a year ago. Terminations, listings that were cancelled or expired, are up noticeably year-to-date, so not everything is moving. But for well-positioned properties, especially waterfront and cottage-adjacent listings, this remains one of the strongest, fastest-moving markets in the region.
Stone Mills
Quick note before getting into Stone Mills: this is a low-volume market, so a single month's numbers can swing hard based on just a handful of sales. With only 14 transactions in July, one or two lower-priced properties closing can pull the average down sharply, and that's exactly what we saw — a 27.1% monthly drop. I wouldn't read too much into that one-month figure. Year-to-date, average price is down a more modest 4.4%, and that's a far more reliable read on where Stone Mills is actually trending.
Gananoque
Again, Gananoque's monthly transaction volume is low enough that it's best to default to year-to-date figures rather than a single month. Through July, average price is up over 10% year-to-date, and median price is up a little more than 8%. But transaction volume is down almost 12% over the same period last year. Fewer sales pushing a higher average is again a mix-shift story more than a broad repricing, so treat this as directional for Gananoque rather than a precise read on values.
What This Means for Buyers, Sellers, and Investors
Buyers
• Several markets are giving buyers more breathing room this month — longer days on market and fewer competing offers in Kingston, Loyalist, and especially Napanee open a real window to negotiate.
• Homes priced under $750,000 continue to move more steadily than higher-priced properties across the region.
• If the right home in Loyalist or South Frontenac comes up, be ready to move quickly — those are the listings drawing multiple offers.
Sellers
• Accurate pricing still wins. The homes moving fastest and drawing multiple offers, whether in Loyalist or South Frontenac, are priced to market from day one.
• Overpricing this time of year, when so many buyers are away, is the fastest way to end up sitting — Napanee's numbers this month are a good reminder of that.
• Don't stop at the average sale price when setting expectations: Kingston's headline jump was a mix shift, not a signal that every home gained value.
Investors
• Watch Loyalist and Napanee for the individual-sale pattern of homes reselling below their 2021–2022 purchase price — still anecdotal and not confirmed in board-wide data, but worth tracking.
• South Frontenac remains the most consistent momentum story in the region this month, particularly for waterfront and cottage-adjacent properties.
• Treat Stone Mills and Gananoque figures with extra caution given how few transactions occur there each month; year-to-date numbers are the more reliable read.
Let's Talk About Your Move
If there's one thread that ties every market together this month, it's this: don't stop at the average. Kingston's price jump was a mix shift, not a repricing. Loyalist's price dip came with a jump in bidding wars on well-priced homes. And Napanee's rising sales came with buyers taking a lot more time to commit. The number on the surface rarely tells the whole story — it's how these figures move together that matters.
Whether you're buying, selling, or just keeping an eye on the Kingston-area market, I'd love to talk through what July's numbers mean for your specific situation. Reach out any time.
