While Toronto's housing market has been showing118金宝搏BET from new levels of competition andridiculous unaffordability, there is another city in Southern Ontario that is getting particularly out of hand when it comes to real estate.

By the end of last year, Kingston — about a three hour drive from T.O. on the way to Ottawa — had experienced thefastest-rising pricesin the entire country, with home prices overall spiking nearly 40 per cent, and median prices of single-family detached homes specifically increasing a whole 44.3 per cent when compared to the year before.

尽管平均价格的金斯顿和我回家asured in the last quarter of 2021 was slightly less thanthe price of a Toronto condoat the time, prices in the more north-easterly locale continue to reach new highs as Toronto's slow down.

According to a new report from RE/MAX, Kingston was still seeing "sizzling" price growth in the first two months of this year despite fewer actual transactions compared to the same time in 2021.

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— blogTO (@blogTO)February 5, 2022

The company's experts wonder if it could be consideredthe hottest housing market in Canadathus far this year.

In February, the MLS Home Price Index in the area was up 30.9 per cent, and average list prices hit a new record high, marking a 26.1 per cent spike compared with the year prior — a bigger jump than the province as a whole when looking at resale stats from the Ontario Real Estate Association.

March's HPI gains were even more substantial, and average prices were again 26 per cent higher year-over-year when looking at March and the whole first quarter compared to the same time last year.

Home sales volume in Kingston fell around 11 per cent in January and February compared to the same two months in 2021 — pretty steady with the rest of the province — while tighter supply showed its impact.

What You Need To Know About Kingston Housing Market -https://t.co/mOXeJlOLiV

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— MortgageCommitment (@MortgageCommit1)April 27, 2022

"For a population of approximately 136,000, Kington might be Canada’s hottest housing market," RE/MAX writes.

"What is supporting this red-hot market? Buyers who live outside the region, many of them coming from Toronto. With North America’s fourth-largest city becoming too expensive for many young families and professionals, many of these households are reconsidering where they live... many have chosen to leave major urban centres in favour of smaller towns in the province and across the country."