Lennox & Addington is seeing a surge in real estate pricing over last year, same period (+33%). It is difficult to determine whether this is due to the mix of homes sold to date for 2021, or just a lot of desperate people. My feeling is that this is a bit of both.
We are seeing a increase in the number of homes sold, even from two years ago, which is good but the SOLD prices still proves that there continues to be a lack of inventory. I would hazard a guess that the demand for country homes has never greater.
More and more people are wondering if this is a time to “cash in”. And the answer is not an easy one, but I would NOT sell unless you had a solid plan in place… meaning not just where will you go to live once but also what are your hopes and dreams for down the road. I’d be more then happy to have that discussion with you and to explain some pitfalls and options which you may not have considered.
We are seeing some changes right now but it is too soon to tell whether this is going to affect pricing or just a sign that people are getting very tired of putting in offers.
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