New housing records set in September

Real estate investment, Money savings for buy new home, Financial wealth management concept. Wooden block on stacked coins with wooden house model. Depicts the growth of the real estate business.
 

While some believed that COVID-19 and the dark possibilities lingering in the future would negatively affect the real estate market in Kingston, it has actually been the complete opposite! Now could be the best time to find that home or investment property you’ve always dreamed of, move to a smaller town while working remotely, or be closer to loved ones who once lived further away.

Here’s how August and September’s real estate numbers have broken records locally:

  • Home sales grew by 33.5% since this time last year, the highest real estate record for the month of September ever
  • Although this is excellent news, there has been a lack of inventory to meet this demand. This means record-breaking real estate prices; prices are up 23% since September 2019.

High residential real estate prices don’t necessarily mean bad news, however. For investors seeking properties that they can renovate and resell, or rent to Kingston residents, there are great possibilities. Kingston continues to grow to meet the demand for housing and those wishing to move to this beautiful city, which means there are no expectations for housing costs to fall.

If you’re thinking of selling, note that the inventory wait time was only 3.5 months last month. The chances of your home being left on the market for an extended period of time, especially if you choose an experienced team like ours to sell your home, is minimal. Let’s get your home into selling condition! 

Now that we’ve shown you how well you could sell during this time, here’s a reminder to steer clear of “low-ball” offers from dodgy, unlicensed home buyers and investors wishing to sell your home at a large profit – for them and not for you! When in doubt, talk to your lawyer or a real estate agent before signing any Agreement of Purchase and Sale or contract.

Canadian (not just Kingston) housing markets have continued to break records this fall. The upcoming season, which is usually slower for home sales, could quite possibly continue to exceed our expectations. You’ll never know when that right home for you will hit the market. And we’ll be there to help every step of the way. 

Are you interested in finding out if the right home to match your dreams, and your budget, is waiting for you in the Kingston area? Reach out for a conversation with our team today.  

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