Kingston Real Estate: September 2012 Archives

The Elevator Bay waterfront site that was once touted for a massive $160 million condominium and marina project is in danger of being sold by the city for unpaid property taxes.

Elevator Bay Development Inc. accumulated $803,000 in tax arrears over the past five years for its undeveloped pier at 1102-1110 King Street West, according to city officials.

However, councillors are willing to give the owner one more chance to pay up. They've agreed to hold off on a tax sale of the property until May 30, 2013.

EMC Kingston Article here:

http://goo.gl/ch9qJ

PRESS RELEASE from The Kingston and Area Real Estate Association September 10, 2012

SALES
The summer months are usually a slow time for housing sales, and August was no exception with Single Family Residential Home sales totalling 234, a 24.5% drop from July, and 4.5% lower than August 2011 when 245 units were sold. Year-to-Date results continue to be strong. Sales for January to August this year total 2352 which represents a 7.3% increase over the same period in 2011. The average price of homes sold in the month of August was $272,727, while the 12 Month average price increased over the previous 12 month period by 2.7%, from $269,222 to $276,510.

LISTINGS
As of August 31, 2012, there were 2,457 Active Listings in the Kingston area, of which 1,560 were Residential properties. Total Active Listings are up 2.7% from 2,392 this time last year.

The full Press Release is here ( PDF Download):

http://goo.gl/fZA5A