KINGSTON REAL ESTATE MARKET RECAP – October 2020

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

 

So, October saw an average sale price of $483,000, that puts us up just 11% for year-over-year. Average days on market were 26 days, that’s slightly more than last months, but we’re still down 8% over last year. In terms of month first month, October in comparison to September, pretty consistent numbers. We’re starting to see inventory a little bit more. That could just be with when we’re approaching as we see kind of every year. On the inventory month, it’s really interesting to note here, on listing inventory, we’re actually down 16% over last year. That’s where we’re seeing that price increase, especially with everything happening this year to note.

 

Also, another fact here is another question we get a lot is: Should you be listing right now? Or should you be listing close to winter? Are people going to be moving? You know, this time around, when snow is flying, is it a good time to put your home on the market? The answer is, depending, yes. Certainly. The reason being is a lot of these price ranges are super-super competitive, and people don’t have a choice to be like: I’ll move in spring, or I’d rather move in summer. No, they have to act on a home now because there are no homes on the market for them. So, if you’ve been thinking, or anything like that, reach out to us, reach out to your realtor. Think about putting it on the market because now might be the best time for you. That’s not a sales pitch; that’s just a note.

 

That’s your monthly market update. If you have any questions, feel free to reach out to myself or our team here.

 

Until then, stay safe, and I’ll talk to you soon.

 

 

Thanks.