kingstonnyrealestate.com

At the beginning of a new year, we always like to take a look back at the previous year in order to get a perspective of how the market fared.  You find our analysis here complete with graphs which display year-over-year trends.  Let's first take a look at the number of homes sold in the City of Kingston, year-over-year as reported by the Ulster County MLS.

In 2010, 144 Single-family homes sold in the City of Kingston.  That figure is down slightly from 2009, when 148 homes sold in Kingston  The volume of homes being sold in the Kingston market obviously has not returned to the level it was at during the boom years, but it is encouraging that we did not see a significant drop in 2010.  It should be noted that more homes where sold in Kingston than any other municipality in Ulster County by a wide margin.  Undoubtedly, the 2010 volume was aided by the home buyer tax credit, so it will be interesting to see if the number of homes sold decreases in 2011.  For that very reason, I'm anticipating that there will be less homes sold in 2011 than there were in 2010.  The Kingston NY real estate market seems to rely more on a stream of first-time home buyers than surrounding towns which depend heavily on a strong second-home market.  

Now on to the median price statistics:

The median price for 2010 actually jumped slightly from 2009.  The median price for 2010 was $157,500 while the median was  $156,600 in 2009, so there wasn't much movement at all.  I don't see the median price returning to the peak we enjoyed in 2007 any time soon, but I also don't expect that the median price will dip as low as 2003 either.  I believe that prices will hold relatively steady in 2011.  The City of Kingston had the third lowest median price of all the municipalities in Ulster County.  Now remains a very good time to buy in Kingston with a wide assortment and selection of available homes and low interest rates.