Last week we told you that the average price of a home sold in Kingston was $626,000.
This week we’re telling you that the average price of a home sold in Kingston was $525,000.
So does that mean prices have gone down a hundred thousand in a week? No.
What’s really important to understand is of all the homes sold, 49% of those sold under $500,000.
So we’ve been talking about that, that a hot part of the market right now are homes under 500,000 because there are the homes that a first time buyer can afford.
So is it time to panic? No.
Will there be panic in the media?
Absolutely. Hang tight. Keep looking where there’s a lot of opportunity is homes between $750,000 and $900,000. There aren’t a lot of buyers out there right now.
Contact us if you’re interested.
Watch the market update here