Adam has released his market update for the month of October, now that the finalized numbers have been tabulated. He goes through the inventory numbers, changes in number of successful sales, and why now is a good time to think about selling.
Good morning. It's Adam Koven with Koven Lifestyle Real Estate and Royal LePage ProAlliance, and here I am with the market report for October 2020. I'm coming to you from one of my favourite subdivisions in Milton and Streets. Riverside, a beautiful waterfront community on the St. Lawrence.
So let's talk about what's going on. It completely begin continues to be a seller's market with 1.3 months of inventory. That means in 40 days, if we kept selling things and we had nothing else to add, we'd have nothing left to show you! So, is now a good time to list your home? Yeah, it certainly is. We'd love to help you out!
Average price, up about 24.5%, about $482,000. So closing in on that half-million average price for Kingston. Sales are up considerably at about 33% increase in sales. But the inventory, as I said is dwindling, this time last year, we were down, 43.5% in our inventory.
So I strongly urge you to give us a call, have a discussion about what's going on! This is a complete seller's market, and if you're in the market and you're thinking about selling, we'd love to help you.
Call us at 613-539-0000 when you have a moment and we'd love to see your home.