Kingston and Area Real Estate Association

The number of homes sold through the MLS® System of the Kingston and Area Real Estate Association totaled 223 units in October 2026. This was down by 9.3% from October 2025.

Home sales were 1.1% above the five-year average and 17.2% below the 10-year average for the month of October.

On a year-to-date basis, home sales totaled 2,403 units over the first 10 months of the year. This was a decrease of 6.9% from the same period in 2025.

“New listings remain at stronger levels compared to historical norms as sellers are as motivated as ever to move their properties, while demand is more on the subdued side. As a result, overall supply continues to move higher above the long-term averages for this time of year,” said Luca Andolfatto, President of the Kingston and Area Real Estate Association. “The Bank of Canada’s recent interest rate increase could further moderate housing market activity as affordability concerns continue to influence buyer behaviour. Higher variable mortgage rates may reduce purchasing power and contribute to slower sales, with additional downward pressure on prices. The overall impact will likely depend on future interest rate decisions, employment trends, and consumer confidence.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $534,000 in October 2026, down modestly by 1.7% compared to October 2025.

The benchmark price for single-family homes was $556,200, a minor decrease of 2% on a year-over-year basis in October. By comparison, the benchmark price for townhouse/row units was $398,900, a small reduction of 1.8% compared to a year earlier, while the benchmark apartment price was $348,500, falling by 5.2% from year-ago levels.

The average price of homes sold in October 2026 was $571,928, a moderate decrease of 7.6% from October 2025.

The more comprehensive year-to-date average price was $615,595, decreasing by 1.2% from the first 10 months of 2025.

The dollar value of all home sales in October 2026 was $127.5 million, a sharp decrease of 16.2% from the same month in 2025.

The number of new listings was down by 8.7% from October 2025. There were 556 new residential listings in October 2026.

New listings were 4.8% above the five-year average and 19.3% above the 10-year average for the month of October.

Active residential listings numbered 1,311 units on the market at the end of October, an increase of 6.8% from the end of October 2025. Active listings haven’t been this high in the month of October in a decade.

Active listings were 19.6% above the five-year average and 47.6% above the 10-year average for the month of October.

Months of inventory numbered 5.9 at the end of October 2026, up from the 5 months recorded at the end of October 2025 and above the long-run average of 3.6 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.