July 2024 Kingston Real Estate Market Update

Summer slowed the pace, not the market

July is always a reality check.

Families shift into summer mode. Vacations take priority. Urgency cools off. And the market shows what demand looks like without pressure.

In Kingston, July 2024 confirmed what June had already hinted at: the market didn’t weaken, it decelerated.

That distinction matters.

The big takeaway from July

Activity cooled, but balance held

July saw a pullback in sales compared to June, which is typical for mid-summer. What stood out wasn’t the slowdown itself, but how the rest of the market behaved alongside it.

Inventory remained elevated.
Prices stayed relatively stable.
Buyer behaviour stayed disciplined.

This wasn’t a stall. It was a seasonal exhale.

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

• Sales: 279 homes sold

• New listings: 573 homes listed

• Active listings: ~1,300 homes on the market

• Sales-to-new-listings ratio: ~49%

• Months of inventory: ~3.9 months

• Average sale price: ~$642,000

• Median sale price: ~$585,000

• Sale-to-list price ratio: ~97%

• Median days on market: ~26 days

What this tells us plainly: buyers still showed up, but with more choice and less urgency, homes took longer to sell and pricing discipline mattered even more.

What July tells us about buyers

July buyers were selective, not hesitant.

They:

• Took advantage of increased selection

• Walked away from listings that felt overpriced

• Negotiated with more confidence than earlier in the year

This is not fear. It’s leverage.

Buyers understand the market has options now, and they’re comfortable waiting for the right one.

What July tells us about sellers

July separated sellers who were prepared from those who were optimistic.

The market still works for sellers, but only when expectations align with reality.

Homes priced correctly continued to sell.
Homes priced “to test the market” often lingered.

With summer distractions in full effect, listings that missed the mark lost momentum quickly.

The pattern that’s now well established

Looking at January through July, a clear progression has emerged:

• Winter: hesitation

• Spring: balance

• Early summer: choice

• Mid-summer: selectivity

July didn’t change the trend. It reinforced it.

This is a market that rewards precision, not patience alone.

What this means heading into August

August typically brings lighter activity and fewer decisive moves. In a market with higher inventory, that dynamic favours buyers even more.

Sellers who want results before fall will need:

• Sharp pricing

• Strong presentation

• A clear plan, not hope

Buyers who stay engaged will continue to find leverage where others pause.

Thinking about your next move?

July’s numbers are a reminder that timing alone doesn’t create opportunity. Understanding conditions does.

If you’re buying, selling, or deciding whether to wait until fall, a clear read on how this market affects your situation is more valuable than any headline.

If you want to talk it through, I’m always happy to do that. No pressure. Just straight, local insight grounded in real data.