If you’ve been watching the Kingston real estate market this fall and wondering whether prices are falling, the short answer is: not really. Prices across the Kingston area are mostly holding steady year to date. What has changed is the pace. Fewer homes are selling, buyers have more to choose from, and the Bank of Canada just raised interest rates for the first time in three years.
In this update, I’ll walk you through the October 2026 numbers for Kingston, Loyalist Township, Greater Napanee, South Frontenac, Stone Mills and Gananoque, and what they mean if you’re thinking about buying or selling. If you’d rather watch, the video is right here.
The Big Picture: Steady Prices, Slower Sales
Across the six communities I cover, 183 homes sold in October, down about 15% from 216 sales in October 2025. Year to date, sales are down about 7%, from roughly 2,240 to just over 2,080.
Here’s the part that tells the real story: new listings this year are almost exactly where they were last year. When the same number of homes come to market but fewer of them sell, buyers end up with more choice — and they’re taking their time to use it.
The Bank of Canada Raised Rates on October 28
On October 28, 2026, the Bank of Canada raised its policy interest rate by 0.25% to 2.5%, its first increase since July 2023. The Bank said the move was meant to stop rising energy costs from spreading into broader price increases. The next rate announcement is scheduled for December 9, 2026.
Who feels this most? Homeowners with variable-rate mortgages and anyone with a mortgage renewal coming up. For buyers, it’s a reminder to get a pre-approval in place now, so you know exactly where you stand before you start shopping.
Kingston Real Estate Market
Kingston had 106 sales in October, with an average sale price of $572,299, down 9.5% from October 2025. The median sale price was $552,500.
That monthly drop looks bigger than it really is. The average list price was down about 7% too, which tells me a lot of that decline comes from which homes happened to sell this month, not from every home in Kingston losing value. The year-to-date picture is much calmer: the average sale price is $627,328, down just 0.6%, and the median is $585,000, down 1.8%. Kingston prices are essentially flat for the year.
• Sale-to-list ratio: Homes sold at an average of 96.7% of asking price in October.
• Days on market: 34 days on average in October, and 35 days year to date (up from 32 last year).
• Sales over asking: About 10% of October sales went over list price.
A note on days on market: This number only counts homes that sold. It also resets when a listing is cancelled and relisted, which many sellers do to get fresh exposure. So many homes were actually on the market longer than the number suggests, and homes that are priced too high can sit much longer.
Loyalist Township Real Estate
Loyalist Township, which includes Amherstview, Odessa and Bath, had 21 sales in October. The October average of $548,619 was down 10% from last year, but with only 21 sales a few homes can swing that number. The year to date is more reliable: the average sale price is $597,811, down 2.2%, on 247 sales, almost the same as last year’s 253.
Loyalist is one of the stronger markets in the region for well-priced homes. October sales averaged 98% of asking, and 19% sold over list price. Year to date, the sale-to-list ratio is 98.2% — actually a little higher than last year. New listings are up about 5% for the year, so buyers have a bit more choice, but homes priced right are still moving.
Greater Napanee Real Estate
Greater Napanee had 16 sales in October, so I’d focus on the year-to-date numbers here. There have been 153 sales so far this year, down about 20% from 192 — the biggest drop in sales of any community I cover.
Prices, though, are holding up better than that suggests. The year-to-date average is $546,280, down just 1.2%, and the median is $495,000, down 5.5%. Homes are selling at about 96% of asking and taking an average of 44 days to sell. In Napanee, the story is fewer transactions, not a price collapse.
South Frontenac Real Estate
South Frontenac had a busier October, with 24 sales, up from 14 in September. Looking at the full year, the average sale price is $680,312, down 6.5%, and the median is $620,000, down 8.5%.
South Frontenac is the highest-priced market of the six, and it’s where prices have adjusted the most this year. New listings are up nearly 12% year to date, which gives buyers real choice. There’s good news for sellers too: homes that do sell are selling faster, averaging 41 days on market this year compared with 49 last year.
Stone Mills and Gananoque: Why Year-to-Date Matters
Stone Mills and Gananoque are smaller markets, with just nine and seven sales in October. With so few sales, one or two homes can swing the monthly numbers dramatically, so I always focus on the year to date for these two.
Stone Mills
Stone Mills has had 77 sales so far this year, down about 8%. The year-to-date average sale price is $660,574, up 4.3%, but the median is $564,900, down 4.8%. Homes are taking longer to sell, averaging 53 days on market compared with 38 last year, and new listings are up almost 20%.
Gananoque
Gananoque has had 70 sales this year, down about 19%. The average sale price is $527,436, up 4.1%, while the median is $477,000, down 2.7%. Notably, about 94% of Gananoque sales this year closed below asking price, compared with 72% last year, and new listings are up 14%.
Why is the average up but the median down? In both towns, a handful of higher-priced sales are pulling the average up. The median — the price right in the middle — is a better sign of what a typical home is selling for, and it’s slightly lower than last year. That’s a shift in which homes sold, not broad price growth.
What This Means for Buyers
• You have more choice. With new listings steady and sales down, there’s more inventory to choose from in most of the region, especially South Frontenac, Stone Mills and Gananoque.
• You have room to negotiate. Most homes are selling below asking price. In Kingston, roughly 87% of October sales closed under list.
• Get pre-approved now. With the Bank of Canada raising rates, lock in a pre-approval before you shop so you know your budget and can move quickly on the right home.
• Well-priced homes still sell. In Loyalist especially, the right home at the right price can still draw multiple offers, so don’t assume every listing is negotiable.
What This Means for Sellers
• Pricing is everything. Homes priced right are still selling close to asking — around 97% in Kingston and 98% in Loyalist.
• Price for today’s market. Buyers have choice, and they’re comparing your home to everything else available. Pricing based on last year’s peak can cost you time.
• Presentation matters. When buyers have options, homes that show well and photograph well stand out.
• Know your local numbers. Markets like Stone Mills and Gananoque behave very differently from Kingston. A local, data-based pricing strategy makes all the difference.
Frequently Asked Questions
Are house prices dropping in Kingston, Ontario?
Not significantly. Kingston’s year-to-date average sale price as of October 2026 is $627,328, down just 0.6% from 2025. October’s average was lower, but that largely reflects which homes sold that month.
Is Kingston a buyer’s or seller’s market right now?
The Kingston area is leaning toward buyers. Sales are down while new listings are flat, so buyers have more choice and most homes are selling below asking. Well-priced homes, however, are still selling quickly.
How long does it take to sell a house in Kingston?
Homes that sold in Kingston in October 2026 were on the market for an average of 34 days. Keep in mind this only counts homes that sold, and it resets if a listing is cancelled and relisted.
How does the October 2026 Bank of Canada rate hike affect homebuyers?
The Bank of Canada raised its policy rate by 0.25% to 2.5% on October 28, 2026. Variable-rate borrowers and people renewing soon will feel it most. Buyers should get a pre-approval to confirm their budget.
The Bottom Line
Prices across the Kingston area are mostly steady year to date, sales have slowed, and buyers have more choice than they’ve had in a while. Rising rates add another factor to watch heading into winter. Whether you’re buying or selling, the local numbers matter, and they can look very different from one community to the next.
If you’d like to know what this means for your home or your search, give me a call at 613-389-1005 or visit lwrealty.ca. And subscribe to my YouTube channel so you don’t miss next month’s update.
Sources
Market data: Kingston and Area Real Estate Association (KAREA) MLS® statistics, October 2026 market reports for Kingston, Loyalist, Greater Napanee, South Frontenac, Stone Mills and Gananoque. Six-community totals calculated from those reports.
Bank of Canada, “Bank of Canada raises the policy rate by 25 basis points to 2½%,” October 28, 2026. https://www.bankofcanada.ca