buying a home in Kingston

Kingston’s September Market: Slower Sales, Mixed Price Signals

September was a quieter month for Kingston real estate. Fewer homes sold, properties took a little longer to find buyers, and there were more homes to choose from.

But the price numbers tell an interesting story.

116 homes sold

Down 5.7% from September 2025

$598,479 average sale price

Down 3.8% year over year

$572,500 MLS® HPI benchmark price

Up 0.5% year over year

610 active listings

Up 4.5% year over year

32.5 median days on market

Up from 28 days last September

So what does that actually mean?

Buyers have a little more breathing room, while sellers are finding that pricing and presentation matter more than ever.

Here’s something worth noticing: the average sale price fell 3.8%, yet the benchmark price was slightly higher than a year ago. That’s because the average can change depending on which homes happen to sell, while the benchmark gives us a better picture of underlying price trends.

And there’s another wrinkle. Kingston’s benchmark price actually slipped 1.2% from August.

The takeaway? The market is becoming more selective, but what’s happening with a condo downtown may be quite different from a family home in the west end.

We’ve taken a closer look at the numbers, including what’s happening with different property types and what it could mean for your next move.

READ THE FULL SEPTEMBER MARKET UPDATE

Source: Canadian Real Estate Association, September 2026 MLS® Residential Market Activity and Home Price Index Report. City of Kingston statistics.

Buying This Fall? Is That Price Reduction Really a Bargain?

Seeing a home drop $20,000 or $30,000 in price can certainly catch your attention. But does that make it a better deal?

Not necessarily.

A price reduction might mean the seller is becoming more realistic. Or it might mean the home was priced too high in the first place.

The important question isn’t how much the price has dropped. It’s what the home is actually worth today.

Look at what similar properties have recently sold for, how long the home has been listed, and whether any repairs or updates could affect its value.

Sometimes a recently listed home at a fair price is a better buy than one that’s been reduced three times.

The opportunity in today’s market isn’t simply finding a discount. It’s recognizing good value when you see it.

Selling This Fall? Your First Asking Price Matters

There’s a temptation when selling to start a little high, just to see what happens. After all, you can always reduce the price later, right?

You can. But there’s a catch.

Your home often gets its greatest attention when it first hits the market. Buyers who’ve been watching for the right property will notice a new listing, but they may move on quickly if the price doesn’t make sense.

With Kingston homes taking longer to sell than they did a year ago, making a strong first impression matters.

That doesn’t mean underpricing your home. It means understanding what similar homes have sold for, what you’re competing against today, and where buyers are likely to see value.

A thoughtful asking price gives your home its best opportunity to attract serious interest from the beginning.

Kingston Ontario real estate market update August 2026

Kingston Ontario Real Estate Market Update: August 2026.

What is happening in the Kingston real estate market? August brought more homes for sale, longer selling times and relatively stable benchmark prices. Here’s what buyers and sellers should know heading into fall 2026.

Continue reading →
Happy first-time homebuyers celebrating their new home purchase in Canada, benefiting from new mortgage rules in 2024.

Canada’s New Mortgage Rules Explained: How First-Time Homebuyers Can Save Big in 2024


Canada’s New Mortgage Rules Explained: How First-Time Homebuyers Can Save Big in 2024

Unlocking Homeownership: What Canada’s New Mortgage Rules Mean for First-Time Buyers

The dream of homeownership just got a little closer for many Canadians, thanks to recent changes in mortgage regulations. If you’re a first-time homebuyer wondering how these updates can help you step into the housing market, we’ve got you covered. Let’s break down the changes and see how they can impact your home-buying journey.


1. Extended Amortization: More Time, Lower Payments

Previously, first-time buyers with a down payment of less than 20% were limited to a 25-year mortgage. Now, the maximum amortization has been extended to 30 years. This change means lower monthly payments, making homeownership more affordable.

  • Home Price: $500,000
  • Down Payment: $25,000 (5%)
  • Mortgage Amount: $475,000
  • Interest Rate: 3.8% (Approximate Current Variable Rate)
  • Monthly Payment with 25-year term: $2,586.57
  • Monthly Payment with 30-year term: $2,213.30

Savings: That’s nearly $373 less per month, making budgeting easier while keeping your long-term financial goals intact.


2. Higher Insured Mortgage Limit: Expanding Options for Big Moves

If you’re living in Kingston, ON, where home prices are typically more affordable, you may not have considered Canada’s new higher insured mortgage cap. But if a new job or life change takes you to a more expensive market like Toronto, this change can be a game-changer.

The insured mortgage cap has increased from $1 million to $1.5 million. This means you can now buy a home priced up to $1.5 million with a smaller down payment, making a transition to higher-cost areas more manageable.

  • Example: If you’re moving from Kingston to Toronto and looking at a $1.5 million home, you’ll need a minimum down payment of $125,000 under the new rules—significantly less than the previous $300,000 requirement (20%).

Even if your budget is closer to $500,000, knowing that larger homes are now within reach could give you more flexibility when relocating to a pricier city. This change opens doors for many buyers balancing career moves with homeownership dreams.


3. Reduced Stress Test Barriers: Easier Mortgage Renewals

For homeowners looking to switch lenders at renewal, the mortgage stress test has been removed if loan amounts and terms remain unchanged. This opens the door for more competitive rates and savings over time. While this may not be immediately relevant for first-time homebuyers, it’s valuable to know for the future.


4. Lower Interest Rates: More Affordable Borrowing

The Bank of Canada recently cut its policy rate to 3.25%, reducing borrowing costs. If you have good credit, lenders may offer variable mortgage rates as low as 3.8%, translating to significant savings over the loan’s life.

  • Qualifying Income Comparison (Considering Different Amortization Periods and a 5% Down Payment):
  • With a $475,000 mortgage at 4.3% (Nov 17, 2024) over 25 years: $96,996.47/year required
  • With a $475,000 mortgage at 3.8% (Dec 17, 2024) over 30 years: $82,998.65/year required

Why This Matters for First-Time Homebuyers

These changes mean you can enter the housing market with lower monthly payments, reduced down payment requirements, and a better chance of qualifying for the home you want.

Tip: Work with a trusted real estate professional and a mortgage advisor to explore how these updates can work in your favor.

Ready to Begin?

Let’s make your homeownership dream a reality. Reach out today for personalized advice and property listings tailored to your budget and goals.