Record-Breaking Year for Home Sales in Kingston

Kingston, January 9, 2007: Members of the Kingston Real Estate Board sold 682 homes in December through the Board's Multiple Listing Service® system, setting a new record of 13,783 residential sales for 2006. The previous record was 13,152 in 2004. There were 615 sales in December 2005.

“Overall, it was a very healthy year for Kingston’s residential real estate market,” said newly elected Board President Diane Hatfield. “The average sale price of a home continued to trend upward, and the still-growing condominium market drove sales numbers all year long. Condos are also selling more quickly than they did in 2005, while residential sales stayed on pace with the previous year.”

The average price of the homes sold in December through the MLS® system in the Kingston area was $247,833, and for the year the average price was $255,889. The Board cautions that average price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average price is calculated based on the total dollar volume of all properties sold.

The Kingston Real Estate Board is an industry association of 2,200 sales representatives and brokers in the Kingston area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.

The MLS® system is a member based service, paid for by the REALTOR® members of the Kingston Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board's internet site at www.KingstonRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board's weekly newspaper, Kingston Real Estate Guide.