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Those wanting to buy a house in this city have about 864 listings to choose from. Buyers should know that the average selling time of a house here is 25 days. Kingston buyers have the advantage over sellers when it comes to houses in this market.
Kingston's most popular neighbourhoods are Cataraqui Westbrook, Greenwood Park and Cataraqui North. We assess how much interest there is for a neighbourhood by looking at various statistics. Neighbourhoods with homes selling within the shortest time frame will usually have a higher popularity ranking.
Kingston's most priciest neighbourhoods are Queen's, Old Sydenham Heritage District and Alwington. Strata.ca determines this by looking at the average sold price for the past year and contrasts it with other neighbourhoods. Buying in Kingston's priciest neighbourhoods may not be ideal if you're seeking good value. Sharpton - Glenvale, Grenville Park and Bayridge West could be much better options.
You may be surprised to discover that Rideau Heights, Williamsville and Markers Acres are Kingston's most affordable neighbourhoods. The average sold price is able to tell us where a neighbourhood ranks in terms of cost. For context, it's important to note that Kingston's average house price is $704,467.
Homeownership in Kingston comes with a number of expenses, one of them being property taxes. This tax is essential in helping the city provide a number of services, including sewer protection and road maintenance. The municipality is responsible for assessing properties and determining its property tax rate, which typically land between 0.5 and 2.5%. Some Kingston residents assume they'll pay more in taxes, depending on the size of their home. However, that's not necessarily true as the city's tax rate is multiplied by the property's current market value - and that can change each year based on the sale of nearby homes. Let's say your home's assessed market value is $600,000 and the municipality's property tax rate is 1% - that year you'd pay $6,000.
Strata.ca features all listings in Kingston, updated multiple times daily - you won't ever miss a property when using this platform. But why settle for basic property details when you could unlock Kingston's real estate history! With Strata.ca, you can also get historical data on every property in Kingston. You'll have all the intel you need to outsmart the local real estate market.
With a walk score of 54, Kingston is a somewhat walkable city. And the bike score comes in at 43.
All buyers must pay a series of closing costs when purchasing a house here. Your realtor and/or real estate agent can best advise on what these charges are. But here's a quick overview of what's involved when buying property in Kingston. Buyers are not allowed to roll closing costs into their mortgage. So be prepared to budget anywhere up to 2% of the purchase price. For instance, 2% on a $600,000 house in Kingston would require $12,000 to be set aside for closing day. In Canada, all buyers are required to pay a land transfer tax when closing on a property. If you're a first-time homebuyer, however, you could be eligible for a government rebate to bring down these costs. A real estate lawyer is necessary to finalize any purchase in Kingston, so you'll want to include their fees in your closing costs. Real estate lawyers have varying rates, but many agents will recommend you budget about $2,000 to cover their fees.