The Kingston and Area Real Estate Association reports that average sale prices have increased 19.3% over February 2019. It continues to be a sellers market with only 2.5 months of inventory available. However 226 buyers were successful in their home search this month! That’s a 5.1% increase in units sold over last year. A .5% drop in the overnight lending rate and a relaxing of the mortgage stress test means that it is a great time for first-time buyers and investors to get into the market.
For the latest market information for your neighbourhood, click the links below:
Amherstview Market Update – Feb 2020
Leeds and 1000 Islands – February 2020
Lennox and Addington – February 2020