REAL ESTATE NEWS
When buying property, one of the biggest misconceptions buyers make is that sellers have to disclose everything that’s wrong with the house. In Ontario, the reality is the exact opposite. We operate by the “buyer beware” doctrine. This means that the burden is on the buyer to ensure they inspect and investigate the property before agreeing to buy it. This can even apply to issues that the seller is aware of.
There continues to be conflicting reports in the industry as to what this HOT MARKET means in the long run and if we are in for a down turn. I’m not so sure that consumers are focused on this today but there appears to an uptick in searches for this term. I pulled search terms “Real Estate Market” in BLUE and ” Real Estate Bubble” in RED from GOOGLE. Here is what it shows.
As this year progresses, the real estate market remains unpredictable and crazy. As the COVID cases rise we may see a downward shift in sales activity this winter. I am personally seeing a bit of what I call “OFFER FATIGUE” from buyers. Some feeling a bit of hopelessness. Who would have thought it would be so hard to purchase a home.
Despite being in the middle of a pandemic, Canada housing market shattered records in July. What the fall brings to the housing market will be anyone’s guess. There are still many uncertainties. Questions remain as to how the changes to the federal CERB program, which is due to change in October, and the mortgage deferral … Read more
Last month I showed that the number of sales over the same period as last year was down by almost 20%. July’s sales were strong and the gap is closing-in with now recording only an 8% drop YTD. Still low based on history in the Kingston & area but it shows that despite COVID, people … Read more
COVID-19 and the subsequent lockdowns have certainly shifted our “spring” market. June has seen the flood gates open as Kingston and area went into Phase 2 of reopening. Although sellers have not completely embraced listing their homes at this time, we are seeing buyers out in full competitive force.
The real estate market continues churn for the Kingston & Area markets, but at volumes significantly less then normal!MONTH to MONTHUnits sold were up by 67% over April 2020 from 177 Units to 295 for Kingston & Area. To put this into perspective… May of 2019 saw 464 sales.YEAR over YEARKingston and area started off … Read more
Kingston and area real estate statistics has been very positive news so far this year. As of the end of May 2016 we have seen a 4% increase in price. This makes the average selling price of a home just over $301,000. So far this year we have seen strong residential home sales for … Read more
When we look at the sales information for the first three quarters of 2014 vs 2015, Kingston saw an increase in single family home sales of 7.7%. This is considerably better than last year which saw a decrease over 2013 sales of nearly 6%. We don’t see this changing much by years end. There were … Read more
Home sales recorded through the MLS® System of the Kingston and Area Real Estate Association posted a double digit year-over-year increase in August 2015. Residential property sales numbered 297 units in August, up 13.4 per cent from the same month a year earlier. On a year-to-date basis home sales are currently running almost seven per … Read more