The RE/MAX Canada Kingston 2025 Housing Market Outlook is out! Looking ahead to 2025, Kingston is expected to transition to a balanced market (4-6 months of inventory on the market), with average price anticipated to increase by 5%, and the number of sales increasing by 10%. Total listings and new listings are also expected to increase by 10 per cent in 2025.
Sales activity in 2025 in the Kingston housing market is expected to be driven by a variety of demographics, from move-up buyers to first-time buyers, downsizers and retirees, investors and those purchasing distressed sales. Single-detached houses are expected to see the bulk of sales activity in the region.
First-time homebuyers are typically purchasing small single-family townhomes in the $400,000 – $600,000 price range. Move-up homebuyers are purchasing single-detached homes in the $600,000 – $1,000,000 price range. Retirees are prioritizing downsizing, offloading their larger detached homes for condominiums around the $800,000 price point.
New construction activity is expected to increase with a focus on building townhomes, detached homes and condominiums. Most developments are proceeding as planned.
Expectations between buyers and sellers are not aligned, and sellers in the region are frustrated with lagging sales. Time on market has increased and prices are softening.
Qualification criteria has been the first-time homebuyer’s biggest challenge. Lower interest rates and 30-year amortization will help reduce carrying costs and make it easier for them to purchase a home in the region.
Looking ahead to 2025, the first half of the year may remain slower than normal, as buyers continue to wait for further interest rate decreases to materialize.
For the full Canadian Market Outlook data from RE/MAX Canada, download here.
