What a crazy year for real estate. COVID certainly didn’t stop people from buying or selling. In fact we saw an 8% increase in sales over the previous year for Kingston & Area which included Stone Mills. Lennox & Addington only saw modest 2% increase in sales.
We saw record price increases across the board (15% for Kingston & Area / 16% for just Lennox & Addington). Low inventory is the crux to this increase but that is because of our unique situation this past year. COVID has created some opportunities for people who are working at home now. Trends such as home offices, creative outdoor spaces, secondary homes are just to name a few. Working from home has offered flexibility as to where people actually work from. Instead of sitting in downtown Toronto they can now work from a secondary home in Stone Mills.
2020 was also the year we had a record number of house sales with multiple offers. My prediction is that 2021 will bring more of the same. This has made it very difficult for buyers to make a home purchase, so let’s hope I’m wrong!
If you have any questions on how to get your home ready for market or you want information about the 1st steps in a home purchase, don’t hesitate to contact me at 613-453-7482 or firstname.lastname@example.org.