KINGSTON REAL ESTATE MARKET RECAP – July 2020

Hey everyone, it’s the beginning of August so let’s recap July 2020 and how we performed in the real estate market.

 

So, in July, we saw 327 new listings, which is significant from a few months ago, but we’re also down nearly 14% over last year. So, we’re still seeing that climb over average sale price, a lot of multiple offer scenarios, and especially over certain price ranges. So, that remains constant as long as our inventories stay low with where they are at.

Average sale price for this month was $455,000, which still puts us nearly 8% up from last year. Average Days on the market is just over 24. Everything’s still looking positive on the market front. Especially if you’re a seller. If you’re a buyer, you’re obviously working with limited inventory, but other than that, everything is still looking just fine.

 

In terms of what’s going to happen next, I still think we’re just going to still see new listings hit the market at the same rate we’ve been seeing. There are no signs of any kind of significant uptick or demand changes. So, I think we’re just going to remain contestant for the end of the year here unless, you know, fire sets us in a different way come fall, which none of us know. As long as everyone stays safe, does their part, Kingston’s still doing a really good job. So, we’ll see how that performs going forward into the fall.

 

I’m curious to see how August looks; until then, stay safe. Talk to you soon, and I hope you’re enjoying these market updates as much as I am.

 

Difficult to come on camera, but we’re making it happen. If you have any questions, feel free to reach out, happy to help. Have a great day.

 

Thanks.