Adam is back to review the Kingston Real Estate market as it stood at the end of November. He has some record breaking stats to share.
Merry Christmas! I'm Adam Koven with Koven Lifestyle Real Estate and Royal LePage ProAlliance Realty, and here is your market update report for November.
So, it's records across the board. You remember we said that we were gonna approach that half-million mark for average home price? We went right by it by about 2%! We are now at $512,000 for your average sales price and here's the other big record, 441 properties that are available for sale. That's it!
In 30 years, there's never been a market under 500. So in 40 days, if I keep selling, you're gonna have nothing to buy, you're gonna have to move in and you have to live with me. I make a wicked Eggs Benedict, so it might not be such a bad thing! 43% below norm, that's what we're sitting on. 34% is the increase in sales and only about 18% in increase of listings.
So we do our simple math, we are running out of inventory! It's going to get down to even lower points. We're seeing multiple offers, we are seeing holding offers, which you know, is the custom right now, but ultimately it is a seller's market and this is the time to think about listing your home!
So again, with the holidays approaching and a time that we can at least see some of our close family members. Be safe out there, Covid is a real issue! I hope that everybody is well for the holidays! I wish you and your family good health prosperity in the new year!
If you are ready to jump on that new years resolution to buy or list your home, give our team a call at 613-539-0000!