Market update

Are you’re dying to know, just like we were, if the Kingston and Area Real Estate Market has started to balance out in the first month of 2018?!
Well in a nut shell, the answer is; nope, it has not.

In fact in the month of January, active listings in Kingston and Area were down 39% from January 2017, with sales showing a decline of 6% .  In Kingston proper, that translated to an active listing decline of 43% and a sales dip of 4%.

Residential sales in Kingston between the range of $275k – $325k were down 35% and showed a decline of active listings of 63%.  Detached homes in the $300k – $350k range showed a decline in active listings of 64% in Kingston and Area which translates to a 73% decline in active listings in that price range in Kingston proper.  Active Listings for detached homes in the $225k – $275 price range are down 61% from this time last year.

*These stats don’t cover the price range or neighbourhood you’re interested in hearing about?  No problem.  Shoot us an email and we’ll put in the time to get it for you*

What does this all mean?

The city is desperately short on inventory – we’ve got a lot of Buyers and not quite enough Sellers.
We have to be direct here- we want you to list your home with us (but only if you don’t love it, if you love it, we really want you to stay!).  If your house is too small, or too big, or maybe you crave a bigger back yard, or more closet space, or a brighter kitchen, or just one more bathroom or less driveway to shovel – call us.  Yep, if you’ve been thinking about moving or have a friend or neighbour that has been thinking of moving, give us a shout and let’s talk.  We might even have a Buyer that is looking for what you have – and if we don’t (as you can see from the stats above) it looks as though it won’t be hard to find one.

*Afraid you won’t be able to find a house if you list yours?!  We’ve got this!! Give us a shout to discuss strategy*

A few tips for Seller’s to prepare for The Spring Market

  1. Start packing now –  we know this sounds crazy, but you’re going to have to do it enventually and this can help you in your very, very important task of de-cluttering!  You’ll never see stacks of opened mail and bills on top of the refrigerator or piles of magazines or stuffed closets in a staged home, so get a jump on it while you can!
  2. Improve your home – minor improvements such painting, replacing grout or caulking, outlet/light switch covers are things that can have a dramatic effect on the first appearance of your home and should be addressed before photography and listing.  Don’t know where to start??  That’s ok, we’ve got an amazing Professional Stager we leverage often, and she loves what she does.
  3. Interview Agents – we can’t wait to tour your home. learn all about it and for the opportunity to discuss our 8 Week Marketing Plan with you.  We won’t be the least bit offended if you want to interview other Agents for the job, in fact, we encourage it.

A few reasons Seller’s might not want to wait until Spring to List

  1.  You’ll notice a theme here – lack of inventory.  Fewer listed homes means there isn’t as much competition.  Also, the fact that the average price of homes in Kingston and Area increased 7.2% in 2017 from the prior year, doesn’t hurt either
  2. Buyer’s  are motivated.  The cold weather, wearing  winter boots and layers of clothing for showings and Open Houses is not stopping Buyer’s to get out and look, and offer. 
  3. Cozy your space up.  Turning on the fireplace, some twinkly lights and strategically placing a few cozy blankets and throw pillows is MUCH easier than weeding your garden on a daily basis.  If you’re selling a home with a pool, having seasonal photos showcasing your pool, patio and garden areas along with a list of pool equipment and related paperwork can help potential Buyer’s visualize what’s currently covered in snow.