August 2024 Kingston Real Estate Market Update

The market didn’t weaken. It revealed priorities.

August is usually the quietest month of the year, and most people feel it.

Vacations, back-to-school planning, and summer routines naturally pull attention away from real estate. When that happens, the market becomes less emotional and more honest.

In Kingston, August 2024 did exactly that.

It didn’t slow the market down. It clarified what matters.

The big takeaway from August

Buyers stayed cautious. Sellers faced reality.

August showed a seasonal dip in sales, which is expected. What stood out was how inventory and pricing behaved alongside it.

Inventory remained elevated.
Homes took longer to sell.
Prices softened slightly on a month-to-month basis, but remained relatively stable year over year.

This is what a market looks like when urgency disappears and decisions become deliberate.

📊 By the numbers – August 2024 (Kingston & Area)

• Sales: 233 homes sold

• New listings: 474 homes listed

• Active listings: ~1,275 homes on the market

• Sales-to-new-listings ratio: ~49%

• Months of inventory: ~4.1 months

• Average sale price: ~$631,000

• Median sale price: ~$572,000

• Sale-to-list price ratio: ~96%

• Median days on market: ~27 days

Plain-language takeaway: buyers had choice, sellers had competition, and pricing discipline mattered more than ever in August

August 2024 - Kingston and Area

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What August tells us about buyers

August buyers were calm, not absent.

They:

• Took their time

• Compared multiple options

• Walked away from listings that didn’t justify the price

With inventory high and fewer competing buyers, there was no pressure to rush. That confidence shaped every decision.

This isn’t buyer fear. It’s buyer control.

What August tells us about sellers

August was unforgiving to sellers who relied on hope.

The market didn’t negotiate. It ignored.

Homes that were priced correctly still sold.
Homes that missed the mark lingered, often requiring price adjustments to regain attention.

With fewer buyers actively shopping, listings needed to be compelling from day one. “Testing the market” proved costly in August.

The lesson August made unavoidable

From January through August, a clear story has emerged.

This market rewards:

• Accuracy

• Preparation

• Realistic expectations

It punishes:

• Overconfidence

• Outdated pricing strategies

• Waiting for urgency to return

August didn’t change the trend. It exposed it.

What this means heading into fall

September typically brings renewed activity, but in a market with elevated inventory, the advantage doesn’t automatically shift back to sellers.

Buyers who stay engaged will continue to have leverage.
Sellers who want momentum in the fall will need to be sharp, not optimistic.

Fall 2024 will favour those who understand the market they’re in, not the one they remember.

Thinking about your next move?

If August felt quiet, that’s normal. Quiet months often provide the clearest insight.

Whether you’re buying, selling, or deciding whether to wait until fall, understanding how these conditions affect your position matters more than any seasonal headline.

If you want to talk it through, I’m always happy to do that. No pressure. Just clear guidance based on real numbers.