The average home price sold in December in Kingston and the area was $566,000. That was a 17.2% drop over November. So is the market crashing? No, not so much.
A couple of things are essential to know. The average number of houses sold in a month last year was 275. December was only 123, so that’s fewer data points. That can skew the average down.
The other thing is that I was out with buyers in December, and the homes on the market tended to be on the lower end of the price range. There were many estate sales, many homes that were fixer-uppers, which plays into the average price point.
Is one data point indicative of a market crash? Absolutely not.
Be careful with stats. Stats can lie.
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