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Embracing Change: Kingston & Area’s October 2023 Real Estate Stats

Introduction – Kingston & Area Real Estate Market October 2023:

As the vibrant hues of autumn paint our landscapes and October gracefully exits the stage, join us for a fascinating exploration into the ever-evolving world of Kingston & Area’s real estate. In a market gradually tilting in favour of homebuyers, staying ahead of the curve becomes more crucial than ever. In this blog post, we’ll meticulously dissect the month-end real estate statistics for October 2023, shedding light on the exciting transition towards a buyer’s market.

October 2023 vs. October 2022: A Transformative Year

New Listings: October 2023 witnessed a surge with 485 new listings, a robust increase from the 414 recorded in October 2022. This surge signifies a growing activity among homeowners eager to showcase their properties, ushering in a shifting market landscape.

Active Listings: In October 2023, the number of active listings soared to 867, a substantial leap from the 654 active listings a year ago. This surge reflects a notable shift in market dynamics, gifting potential buyers a diverse array of options.

Supply of Homes: The supply of homes, measured at 4.1 months in October 2023, tips the scales in favour of buyers. Compare this to the 2.5 months’ supply in October 2022, and the message is clear – the market is evolving towards a buyer’s advantage.

Average Price: October 2023 recorded an average home price of $581,297, a gentle decrease from the $602,873 of October 2022. This adjustment suggests a market that’s finding its equilibrium, offering a balanced playing field for both buyers and sellers.

Number of Sales: Closing October with 173 sales, the month outpaced the 169 transactions in October 2022. This uptick in sales, coupled with other market indicators, contributes to the narrative of Kingston & Area gracefully embracing a buyer’s market.

Understanding the Shift:

The real estate landscape in Kingston & Area is undergoing a noticeable transformation, favouring homebuyers. With a surge in new listings, increased active inventory, and a more balanced supply-demand ratio, the market is becoming a haven for those stepping into the real estate arena.

Navigating the Change:

This shift is a golden opportunity for prospective buyers to explore a broader spectrum of properties and negotiate confidently. Sellers, the key is strategic pricing and showcasing your property’s unique allure in a market that offers buyers an array of choices.

Connect with Gazeley Real Estate Group:

Embarking on a real estate journey? The Gazeley Real Estate Group, armed with over 25 years of expertise, is your guiding light. Navigate the evolving Kingston & Area real estate market confidently with our personalized guidance for both buyers and sellers. Connect with us today by exploring the latest listings on our website here.

Conclusion:

October 2023 signifies more than the falling leaves – it marks a shift in Kingston & Area’s real estate dynamics. Whether you’re eyeing that dream home or considering listing your property, understanding these trends is your key to success. Explore our latest listings and learn more about our services at Gazeley Real Estate Group.

Discover Your Dream Home in Kingston, ON – 326 Glengarry Road – www.gazeleyrealestategroup.ca

Are you in search of the perfect family home in Kingston? Look no further! We’re thrilled to introduce you to 326 Glengarry Road, a spacious and comfortable residence nestled in the highly desirable Strathcona Park neighbourhood. With 4 spacious bedrooms and listed at $699,999 this home offers tremendous value as a family home.

A Family Haven

This beautiful home features 4 generously sized bedrooms that will pleasantly surprise you with their ample space. Whether you have a growing family or just love having extra room to spread out, this property has you covered.

Space and Serenity

Situated on a substantial 50×139-foot lot, this home seamlessly combines spacious living with a serene atmosphere. Step inside, and you’ll be greeted by a living room and dining room that exude sophistication. Gleaming hardwood floors and tasteful crown moulding add an extra layer of elegance.

The cozy gas fireplace in the living room not only adds warmth but also serves as a delightful focal point for your family gatherings.

The Perfect Work-From-Home Setup

For those in need of a dedicated workspace, the main floor includes a conveniently situated office/den. It’s the ideal spot for remote work, studying, or creative pursuits.

Comfort and Convenience

With a total of 4 bathrooms, including an ensuite, this residence ensures comfort and convenience for your entire family. No more waiting in line during busy mornings!

A Backyard Oasis

One of the standout features of this property is its direct backyard access to a peaceful, tree-filled neighbourhood park. It’s your private oasis where families and children can unwind, play, and enjoy the outdoors right at your doorstep.

Easy School Access

Furthermore, this home is within a short walking distance of 2 elementary schools, making the morning routine effortless for your young scholars.

The Full Package

326 Glengarry Road is all about combining comfort, convenience, and spaciousness. Priced at $725,000, this home offers the complete package for a growing family.

Don’t miss the chance to make this wonderful property your forever home. Experience the joys of Strathcona Park living and create cherished memories in this home.

Property Details:

  • List Price: $699,999
  • Style: Two Story
  • Bedrooms: 4
  • Bathrooms: 4 (2 partial)
  • Above Ground Floor Space: 2,304 sqft and approx. 600 sqft below ground
  • Taxes: $5,345

Neighbourhood Features:

  • Close to the airport
  • Proximity to parks and playgrounds
  • Public transit access
  • Quiet area
  • Schools nearby
  • Shopping convenience

Address: 326 Glengarry Road, Kingston, ON, K7M 3J9

For more details and to schedule a private showing, visit 326 Glengarry Road on Gazeley Real Estate Group. Your dream family home awaits you in Kingston!

Kingston & Area Real Estate Market Report: September 2023 Shifts Towards a Buyer’s Market – www.gazeleyrealestategroup.ca

Introduction

As we say goodbye to September 2023, it’s time to delve into the ever-evolving real estate landscape of Kingston & Area. Staying informed about market trends is crucial for both buyers and sellers. In this blog post, we’ll provide you with a comprehensive analysis of the September 2023 month-end real estate statistics, comparing them with the figures from September 2022. Let’s dive right in!

September 2023 vs. September 2022: A Year of Change

New Listings: In September 2023, the Kingston & Area real estate market saw 575 new listings, marking an increase from the 518 new listings in the same month the previous year. This uptick suggests a healthy level of activity as homeowners decide to list their properties.

Active Listings: The number of active listings in September 2023 was 907, a noticeable increase from the 696 active listings in September 2022. This rise in active listings signifies a significant shift in the market dynamics compared to the previous year.

Supply of Homes: The supply of homes, measured by the number of months it would take to sell all available listings at the current sales pace, stood at 4.3 months in September 2023. This is a significant jump from the 2.6 months of supply in September 2022. With a supply of 4.3 months, the market leans towards a buyer’s advantage, providing potential buyers with more options and bargaining power.

Average Price: The average price of homes in Kingston & Area for September 2023 was $577,235, slightly lower than the average price of $595,064 in September 2022. This adjustment suggests a more balanced market where prices are stabilizing.

Number of Sales: In September 2023, there were 168 sales, a decrease from the 292 sales recorded in the same month the previous year. This decline in the number of sales further underscores the shift towards a buyer’s market.

The Impact of Market Shift

The Kingston & Area real estate market appears to be transitioning from a seller’s market to a more balanced one, favouring buyers. The surge in new listings, coupled with the notable increase in active listings, and a rise in the supply of homes all indicate significant changes in market dynamics.

For buyers, this shift offers an opportunity to explore a broader range of options and potentially negotiate more favourable deals. For sellers, it’s vital to price their homes competitively and ensure they stand out in a market where buyers have more choices.

Connect with Gazeley Real Estate Group

If you’re seeking guidance to navigate the evolving Kingston & Area real estate market, the Gazeley Real Estate Group is here to assist you. With our industry experience, our team possesses the expertise needed to help you make well-informed decisions on your real estate journey.

To learn more about our services and explore the latest listings in Kingston & Area, visit our website here. We provide personalized guidance to both buyers and sellers, ensuring a seamless and successful real estate experience.

Conclusion

The Kingston & Area real estate market is displaying signs of transitioning into a buyer’s market, marked by increased inventory and a more balanced supply-demand ratio. Regardless of whether you’re a buyer or seller, staying updated on these market trends is essential for making informed decisions. Reach out to the Gazeley Real Estate Group for expert guidance in navigating this evolving real estate landscape.

Kingston and Area Real Estate Market Report: Insights – July 2023

Introduction:

Welcome to the July 2023 edition of our Kingston and Area Real Estate Market Insights. In this update, we delve into the intriguing dynamics that have shaped the real estate landscape this month, providing you with a comprehensive view of the market’s performance and trends.

New Listings and Active Listings:

In July, the market saw the introduction of 473 new listings. While this represents a 9.2% decrease from the previous year, each new listing presents an opportunity for buyers to find their ideal homes or investment opportunities. Concurrently, active listings surged to 840, marking an impressive 24.1% increase from the same time last year. This growth signifies a diverse range of options for discerning buyers.

Months of Inventory:

A key indicator of market balance, the months of inventory reached 3.8 in July 2023, showing a substantial 58.3% rise from the previous year. This metric, calculated by dividing the current inventory by average monthly sales, sheds light on the evolving dynamics between supply and demand in Kingston and Area’s real estate sector.

Average and Median Prices:

In July 2023, the average property price settled at $604,765, demonstrating a modest 2.2% increase from the previous year. Similarly, the median price rose to $567,000, marking a 4% growth compared to July 2022. These gradual yet significant upticks underscore the enduring appeal of real estate investments in our region.

YTD Sales:

Year-to-date sales for July 2023 totaled 1689 properties, reflecting a 17.2% decrease from July 2022. It’s important to interpret this decline within the broader market context. Fluctuations in sales figures are common and often bring unique opportunities for both buyers and sellers.

Navigating the Market:

Effectively navigating a dynamic real estate market requires a deep understanding of data and trends. At Gazeley Real Estate Group, our seasoned professionals are committed to providing you with the expertise and insights needed to make informed decisions. Whether you’re considering buying, selling, or investing, our team is here to guide you every step of the way.

Conclusion:

The Kingston and Area real estate market is in a constant state of evolution, offering challenges and opportunities alike. Staying informed about the latest market data and collaborating with professionals who have a comprehensive grasp of the local landscape positions you for success.

Reach out to me for personalized guidance tailored to your real estate goals. Together, we can navigate the nuances of the market and unlock the potential that Kingston and Area’s real estate has to offer.

Written by Partner & Agent

Jay Gazeley

The Art of Finding Your Dream Luxury Home: Embracing Location, Quality, and Family-Friendly Neighborhoods

Introduction:

In the realm of luxury real estate, finding the perfect home is an art that demands a delicate balance of essential elements. From the ideal location and quality construction to a family-friendly neighborhood, the journey to discovering your dream luxury abode can be both exciting and challenging. In this blog post, we will explore the significance of these factors and how they align with the pain points and goals of luxury home buyers.

The Importance of Location:

Location is a fundamental aspect of any real estate investment, and luxury homes are no exception. A prime location offers convenience and accessibility to a wide range of amenities, from prestigious institutions and cultural attractions to recreational facilities and shopping destinations. Proximity to top schools and medical facilities is also a crucial consideration for families. Investing in a luxury home with a desirable location not only ensures your daily needs are met but also contributes to the property’s long-term value and potential for appreciation.

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