FAQ #4 ARE HOME PRICES CLIMBING IN GANANOQUE?
Another good question your favourite Gananoque Realtor gets asked all the time!
The one thing I want people to be aware of is that everything is local. Our Market here in the Kingston/Gananoque/Brockville area is not the same as say Ottawa or Toronto. Please don't apply what you read in the newspaper or see on TV to your area. There are vast differences in the National numbers as compared to the local numbers!
I publish an REPORT each month comparing the Gananoque Residential Market this month in 2012 as compared to 2011. (stay tuned for my May Report)
It shows you:
- the number of new residential listings for the month and year
- the number of residential sales for the month and year
- the average sale price for the year
Strangely, the average Sale Price in 2012 is $201,122. and the average Sale Price in 2011 was $207,676. for Gananoque due to the lesser number of middle market residential properties that have sold this year:
in 2012 we have seen only 17 homes sold as compared to 28 last year this time.
The majority of homes that have come on the market are what we refer to as First Time Buyer Homes meaning they are at a more affordable price for someone just getting into home ownership. The people wanting to 'move up' are having great difficulty finding these next level of homes for sale iin Gananoque. We have many many buyers looking for property in Gananoque but we have such a shortage of inventory, we're seeing them choosing homes in other areas! We have listed for sale in 2012 only 57 homes as compared to 86 homes this time last year!!!
If you are a homeowner considering selling your home, now is the time to get it listed for sale: the buyers are out there and they are busy looking for their next home. You will not have as much competition as in previous years so give me a call and let's get your home on the Gananoque Market! (or Kingston or Brockville too!)
Give Susan Emo a call because What Susan touches turns to $old!