KINGSTON REAL ESTATE MARKET RECAP – November 2020

Hey everyone, Jordan Quaresma here from RE/MAX Rise and the Quaresma Realty Group, and it’s time now for your monthly market update, this time for November 2020.

 

So, last month we saw an average sale price of $542,000. That puts us up $471,000 for the year-to-date, which is 12% over last year. Average days on market are just a touch over 23 days. An interesting stat to look at that I pulled for this month is that our average sale price-to-list-price ratio is actually higher than 1. What that says is that more homes are selling for over-asking than under-asking, on average, of course. Which is an interesting look on the numbers there.

 

Now, looking into 2021, we won’t get into it too much this month for this month’s report. But, RE/MAX just launched their projections for next year, and Kingston is slated for about a 10% increase in average price based on what they saw this year. What we’ll do next month, we’ll actually break it down a little further. We’ll actually do a year-in-review and kind of what 2021 offers.

 

Until then, we will hold off, and this will the last market update for this year. So, please enjoy your holiday season. Stay safe; enjoy time with family. I know it’s going to be a little bit unique this year, but ultimately, it’s still a great time of the year, and I hope everyone has a good time. Happy New Year, and I will see you in early 2021.

 

Thank you again, and have a great day.