# Cushendall: Kingston's decade-high August listings and flat HPI signal a buyer shift Kingston recorded 562 new residential listings in August 2026, the highest for that month in ten years, while the MLS HPI composite benchmark price rose just 0.2% to $550,100. These city-level measures are not measured at the Cushendall neighbourhood level. Published 2026-10-11. Evidence snapshot 2026-10-12. ## Key facts and reporting periods - Average Sale Price: 620087 cad. Property type: All. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king/) - Average Sale Price: 620087 cad. Property type: All. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king) - Benchmark Price: 566800 cad. Property type: SingleFamily. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king/) - Benchmark Price: 403300 cad. Property type: Townhouse. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king/) - Benchmark Price: 566800 cad. Property type: SingleFamily. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king) - Benchmark Price: 403300 cad. Property type: Townhouse. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king) - Sales Volume: 2179 units. Property type: All. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king/) - Sales Volume: 2179 units. Property type: All. Scope: Kingston, ON. Reporting date: 2026-10-10. [Source](https://stats.crea.ca/board/king) ## Market summary Kingston recorded 562 new residential listings in August 2026, the highest for that month in ten years, while the MLS HPI composite benchmark price rose just 0.2% to $550,100. These city-level measures are not measured at the Cushendall neighbourhood level. ## Central finding The strongest measured finding is that Kingston's months of inventory reached 5.8 at the end of August 2026, up from 5.6 in August 2025 and well above the long-run seasonal average of 3.6 months. This indicates a clear buyer's market at the city level, where supply exceeds demand and negotiating leverage shifts to buyers. The near-flat HPI of +0.2% confirms that this increased supply has not yet translated into significant price declines, but the pressure is building. Sources: [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king) [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king/) ## How the numbers connect Calculates the percentage deviation of current inventory from the long-run seasonal average. Calculation: (5.8 - 3.6) / 3.6 * 100 = 61.1% Definitions: Months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. The 3.6-month figure is the long-run average for the same season (August). Limit: This calculation establishes the magnitude of the deviation from the historical norm but does not establish a sustained trend or structural change, as it relies on two dated observations. Sources: [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king) ## Kingston's decade-high listings outpace sales, shifting leverage to buyers In August 2026, the Kingston and Area Real Estate Association reported 562 new residential listings, marking the largest number of new listings added in the month of August in a decade. This represented a 13.3% increase from August 2025 and was 10.5% above the five-year average. Active residential listings stood at 1,397 units at the end of August, a level not seen since early 2017 and 43.9% above the ten-year average. These city-level figures indicate a significant expansion in supply, which typically exerts downward pressure on prices and improves buyer leverage. Despite the surge in new listings, home sales remained subdued, with 239 units sold in August 2026. The overall MLS HPI composite benchmark price was $550,100 in August 2026, essentially unchanged, up just 0.2% compared to August 2025. The median number of days on market for sold single detached homes was 22 in the second quarter of 2026, up slightly from 20 days in the second quarter of 2025. This combination of high inventory and stable prices suggests that sellers are adjusting their expectations, but the market has not yet fully absorbed the increased supply. Sources: [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king/) [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king) [Kingston Market Conditions | CREA Statistics](https://stats.crea.ca/mls/king-market-conditions) ## Rising bond yields and mortgage renewals constrain borrowing capacity As of September 18, 2026, the lowest available five-year fixed mortgage rate in Canada is 4.24%, while two-year and three-year fixed rates remain below 4% at 3.89% and 3.94% respectively. The Bank of Canada held its policy rate steady at 2.25% on September 2, 2026, keeping lenders' prime rate at 4.45%. However, rising five-year Government of Canada bond yields near 3.65% are exerting upward pressure on fixed rates, potentially pushing them higher in the coming weeks. This financing environment reduces household disposable income and borrowing capacity, creating direct pressure on affordability. Over the next year, the last of the five-year, fixed-rate mortgages taken out during the pandemic will come up for renewal, representing approximately 12% of all outstanding mortgages. On average, these borrowers can expect their monthly payments to increase by 15%. National mortgage delinquency rates remain low by historical standards, meaning that most borrowers have been able to absorb higher payments without falling behind. However, the strict mortgage stress test rules mean borrowers would have qualified at a much higher rate than they actually paid when they took out those mortgages, providing some buffer against default. Sources: [Best mortgage rates Canada | Compare Canada mortgage rates | Ratehub.ca](https://www.ratehub.ca/best-mortgage-rates) [Royal LePage Blog | Canadian Real Estate News | Canada's housing market poised for a fall rebound after a slow spring - Royal LePage Blog | Canadian Real Estate News](https://blog.royallepage.ca/canadas-housing-market-poised-for-a-fall-rebound-after-a-slow-spring/) ## Federal infrastructure funds target housing-enabling upgrades The Canada Housing Infrastructure Fund (CHIF) was established by Budget 2024 with $6 billion in federal funding over 10 years to accelerate the construction and upgrading of housing-enabling water, wastewater, stormwater, and solid waste infrastructure. The program is delivered through two streams: a Direct Delivery stream providing up to $1 billion over eight years directly to eligible recipients, such as municipalities and Indigenous communities, and a Provincial and Territorial Agreement stream allocating $5 billion over 10 years to provinces and territories. Projects under the Direct Delivery stream must be substantially completed by September 2031, while those under the PT Agreement stream have a completion deadline of September 2033. Communities with populations over 30,000 must implement zoning changes allowing four units as-of-right to qualify for CHIF funding. Municipalities and regions with populations over 300,000 must also freeze Development Charges for three years at the rates that were in place on or before April 2, 2024. These conditions aim to remove infrastructure bottlenecks that constrain housing supply, indirectly supporting development and potentially affordability through increased density. The specific allocation to housing projects depends on future project selection and municipal planning decisions. Sources: [Canada Housing Infrastructure Fund - Housing, Infrastructure and Communities Canada](https://housing-infrastructure.canada.ca/housing-logement/chif-fcil/index-eng.html) ## Kingston's permit activity exceeds provincial targets The City of Kingston reported that its Planning Services exceeded the Provincial Housing Target by issuing 800 building permits in 2023. Despite this increase in new construction approvals, the rental vacancy rate for the Kingston Census Metropolitan Area declined to 0.8 per cent in 2023. This figure includes the Township of South Frontenac, Township of Frontenac Islands, and Loyalist Township, indicating that the broader regional market remains tight despite local permit activity. The City of Kingston has launched a new Community Improvement Plan offering property tax incentives to stimulate the construction of rental housing within its urban boundaries. Applications for these programs are open from June 13, 2024, through December 31, 2026, targeting developers who create new apartment buildings with at least seven rental units that result in increased property taxes. This initiative aims to address housing shortages and support projected population growth, with specific initiatives targeting the Westbrook neighbourhood and broader rental supply. Sources: [Winter and Spring Planning News | City of Kingston](https://www.cityofkingston.ca/news/posts/winter-and-spring-planning-news/) [New incentives to encourage rental housing development now available | City of Kingston](https://www.cityofkingston.ca/news/posts/new-incentives-to-encourage-rental-housing-development-now-available/) ## The strongest counter-case The strongest counterforce is the national mortgage renewal wave, where borrowers renewing pandemic-era five-year fixed-rate mortgages face an average 15% increase in monthly payments. This affects approximately 12% of all outstanding Canadian mortgages over the next year, which could dampen demand further and accelerate price declines if sellers do not adjust expectations. Additionally, the Bank of Canada held its policy rate steady at 2.25%, but rising five-year Government of Canada bond yields near 3.65% are exerting upward pressure on fixed rates, potentially pushing them higher in the coming weeks. Sources: [Royal LePage Blog | Canadian Real Estate News | Canada's housing market poised for a fall rebound after a slow spring - Royal LePage Blog | Canadian Real Estate News](https://blog.royallepage.ca/canadas-housing-market-poised-for-a-fall-rebound-after-a-slow-spring/) [Best mortgage rates Canada | Compare Canada mortgage rates | Ratehub.ca](https://www.ratehub.ca/best-mortgage-rates) ## Living here City-level amenities include Cataraqui Woods Elementary School, Quintilian School, Sibbit Park, Gore Road Dog Park, Francis Street transit stop, Henderson Boulevard transit stop, Henderson Child Care Centre, kids & company, Patel Indian grocery, The Common Market grocery, and Centre Culturel Frontenac recreation facility. Sources: [School](https://www.openstreetmap.org/way/1130702347) ## The early signal New residential listings in Kingston reached 562 units in August 2026, the highest count for that month in ten years. How it reaches the market: Increased new listings expand active inventory, which typically exerts downward pressure on prices and improves buyer leverage by providing more choices and reducing competition among buyers. Typical lead time: New listings typically lead price changes by one to two months as the market absorbs the additional supply and adjusts pricing strategies. Sources: [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king/) ## Next 3 months, through December 2026 Prices: flat. 0% to -1% for all property types in Kingston; not a measured Cushendall result. Why: Kingston's months of inventory at 5.8 in August 2026, well above the 3.6-month seasonal average, indicates a buyer's market. The near-flat HPI of +0.2% suggests that prices are stabilizing but not yet declining significantly. Rising bond yields and mortgage renewals may further dampen demand, but the effect is likely to be gradual. Buyers: buy now. Buyers benefit from high inventory and stable prices, allowing for more negotiation leverage and a wider selection of properties. Sellers: wait. Sellers face increased competition and potential price pressure due to high inventory levels. Waiting may allow for better timing if demand recovers or if interest rates stabilize. Watch: A significant drop in new listings or a sharp increase in sales volume that reduces months of inventory below 4.0. Confidence: moderate. Sources: [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king) [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king/) ## Next 6 months, through March 2027 Prices: falling. -1% to -3% for all property types in Kingston; not a measured Cushendall result. Why: The continued high inventory levels and the impact of mortgage renewals on borrower affordability are expected to exert downward pressure on prices. The 15% increase in monthly payments for renewing borrowers may reduce demand, leading to further price adjustments. Buyers: buy now. Buyers can capitalize on falling prices and increased seller motivation, potentially securing better deals and more favorable terms. Sellers: wait. Sellers should consider waiting until the market stabilizes or until they can offer competitive pricing to attract buyers in a high-inventory environment. Watch: A reversal in the trend of new listings or a significant increase in sales volume that brings months of inventory closer to the balanced range of 4-6 months. Confidence: moderate. Sources: [Royal LePage Blog | Canadian Real Estate News | Canada's housing market poised for a fall rebound after a slow spring - Royal LePage Blog | Canadian Real Estate News](https://blog.royallepage.ca/canadas-housing-market-poised-for-a-fall-rebound-after-a-slow-spring/) [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king) ## Next 12 months, through September 2027 Prices: falling. -3% to -5% for all property types in Kingston; not a measured Cushendall result. Why: The cumulative effect of high inventory, rising mortgage costs, and potential economic headwinds from trade tensions could lead to more significant price declines. The full impact of the mortgage renewal wave will be felt over this period, potentially reducing demand further. Buyers: either way. Buyers have the option to wait for further price declines or act now to secure a property before the market cools further. The decision depends on individual financial circumstances and risk tolerance. Sellers: wait. Sellers should prepare for a more challenging market environment and consider strategies to make their properties stand out, such as competitive pricing and staging. Watch: Significant changes in interest rates, government policy interventions, or a substantial increase in housing starts that could alter the supply-demand balance. Confidence: low. Sources: [CREA | REALTOR® Recommendations](https://www.crea.ca/advocacy/realtor-recommendations/) [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king) Assumptions: Interest rates remain relatively stable, with only modest increases in fixed mortgage rates due to rising bond yields; No major government policy changes that significantly impact housing demand or supply occur within the forecast period; Economic conditions remain stable, with no severe recession or significant job losses that would drastically reduce housing demand. What would reverse this: A sudden decrease in interest rates or a significant increase in immigration and population growth could boost housing demand, offsetting the downward pressure from high inventory and mortgage renewals. This could lead to a quicker stabilization of prices and a return to balanced market conditions. Sources: [Best mortgage rates Canada | Compare Canada mortgage rates | Ratehub.ca](https://www.ratehub.ca/best-mortgage-rates) [Statistics Canada Table 17-10-0155-01](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710015501) ## Sources - [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king): Source reference date 20 September 2026 (observation period not stated). Scope: city, Kingston, ON. - [Kingston and Area Real Estate Association | CREA Statistics](https://stats.crea.ca/board/king/): Source reference date 20 September 2026 (observation period not stated). Scope: city, Kingston, ON. - [Royal LePage Blog | Canadian Real Estate News | Canada's housing market poised for a fall rebound after a slow spring - Royal LePage Blog | Canadian Real Estate News](https://blog.royallepage.ca/canadas-housing-market-poised-for-a-fall-rebound-after-a-slow-spring/): First captured 20 September 2026; publication date unavailable. Scope: National, CA. - [Best mortgage rates Canada | Compare Canada mortgage rates | Ratehub.ca](https://www.ratehub.ca/best-mortgage-rates): First captured 20 September 2026; publication date unavailable. Scope: National, CA. - [Kingston Market Conditions | CREA Statistics](https://stats.crea.ca/mls/king-market-conditions): Observation reference period: 30 June 2026. Scope: city, Kingston, ON. - [Canada Housing Infrastructure Fund - Housing, Infrastructure and Communities Canada](https://housing-infrastructure.canada.ca/housing-logement/chif-fcil/index-eng.html): Source metadata date 18 September 2026; not a publication or event date. Scope: National, CA. - [Winter and Spring Planning News | City of Kingston](https://www.cityofkingston.ca/news/posts/winter-and-spring-planning-news/): Source reference date 20 September 2026 (observation period not stated). Scope: city, Kingston, ON. - [New incentives to encourage rental housing development now available | City of Kingston](https://www.cityofkingston.ca/news/posts/new-incentives-to-encourage-rental-housing-development-now-available/): Source metadata date 20 September 2026; not a publication or event date. Scope: scope unavailable. - [School](https://www.openstreetmap.org/way/1130702347): date unavailable. Scope: city. - [Statistics Canada Table 17-10-0155-01](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1710015501): date unavailable. Scope: Census subdivision/municipality; not neighbourhood-level, Kingston, ON. - [CREA | REALTOR® Recommendations](https://www.crea.ca/advocacy/realtor-recommendations/): First captured 20 September 2026; publication date unavailable. Scope: National, CA. Prepared by Aurynge with AI-assisted research and writing. See /methodology for the evidence and publication policy.