In this month's market update, Adam compares last years numbers to Kingston's current market and shares what he sees happening in the upcoming months!
Video Transcription:
Here we are with our July stats. We're back to last year's levels of sales, so we are down 27.3%, but that is normal from a record-breaking last year, so things are sort of normalizing on the sale point. Prices are still up over 27%, so there is that hit in the market where the inventory is staggering to keep up with demand. Inventory is at its lowest that it's ever been again in 15 years.
So, we're not out of the woods, but what we have is in August where people are saying, I wanna calm down, I wanna go to the cottage, I don't wanna work anymore. People are getting that last little bit in. Plus if you're like me, you got kids to go to university, you got move-ins. So, we do sort of see that dip, that traditional dip, which we didn't, I feel, see last year.
So my prediction though is you're gonna see spikes in inventory. I think you're gonna see this market rally again for September and October.
So enjoy the beach, get your kids moved in. That's what's going on in the marketplace. We'd love to show you some properties. We've got lots coming! Call us at 613-539-0000 and we can work together on achieving your goals!
