Knowing the Northumberland Real Estate Market and Protecting Your Real Estate Interests
This in not the typical home page introduction that I've had on my website in previous years. Realtor's jaws are dropping, there are regular conversations in the Real Estate Brokerage offices talking about the price of the most recent sale and both Buyers and Sellers are left confounded by what is happening for the second year in a row in Cobourg, Port Hope and the surrounding Northumberland County.
I'm in the Cobourg studio for Northumberland 89.7 FM and it's Thursday March 30, 2017 at 11:07 am and I'm reporting the latest real estate statistics for Northumberland County on the "Snapshot" segment of Reality Realty. I'm reporting an $8,000 increase from the report two weeks ago, for the average selling price of single family residential listings over the past year - the average selling price over the past year is now 362K! This will seem like no big deal if your coming from Toronto, the GTA or Durham, but Port Hope, Cobourg and the surrounding communities haven't ever seen anything like it. Everyone knows we're in a strong Seller's market, but to have a real appreciation of it, you simply figure out the absorption rate of homes that have sold in relation to the inventory of homes for sale. An absorption rate below 15% is traditionally considered a Buyer's market, between 15% and 20% is balanced and an absorption rate above 20% is traditionally considered a Seller's market. Well today I reported a 108% absorption rate for residential homes in our County - now you get a better sense of how strong this Seller's market is.
With this hot market comes marketing and negotiation strategies that have been more common in Toronto and Durham Region than it has been in Cobourg and Port Hope. The experienced service of a knowledgeable and progressive Realtor has never been more valuable than it is today. Even though homes are selling quickly, money can easily be "left on the table" without the insight and counsel of someone who's immersed in the industry, someone who quickly adapts to changing times and someone who lives, works and plays in the community. Yes, it's a great year to sell a home in Northumberland County but not the best year to be a Buyer. It's a real estate jungle out there and you should be choosing the Safari Guide (Realtor) who's equipped to lead you through the process.
There’s always something going on in Northumberland County; whether you want to stay indoors or enjoy all that outdoor activities offer. Those of us who live here know of the comfort and advantages that are compliments of having a home in Cobourg, Port Hope and all the townships, towns, villages and hamlets within Northumberland County. And the secret is getting out as we can see, by more and more people choosing to buy real estate and relocate here. Whether you’re looking for the best real estate values for your hard earned dollars, searching for a safe place to raise a family, yearning for wide open spaces or just wanting to get away from the busyness of the big city while still living close enough for a quick visit back, there’s something for everyone in Northumberland County.
Northumberland real estate offers options for first-time home buyers right through to those who are in their retirement years; we have an amazing and diverse community.
If you have a real estate move in your future, contact me and let's start planning for your success in today's real estate market. I use trend setting technology, leading edge marketing and haven't forgotten the value of good old fashion service.
Real Estate Service Features
- A comprehensive yet easy to understand Market Analysis that makes sense - with the available supporting documents.
- Your listing will always be placed on the Toronto Real Estate Board as well as the Northumberland Hills Association of Realtors Board, since I'm a full member of both boards.
- A complimentary home staging consultation will enable you to have your home looking it's very best - a $395 value.
- Both Sellers and Buyers can save with my complimentary home pre-inspection program - a $445 value.
- Drone aerial photography.
- Professional photography and virtual tour with interactive features from an architectural photographer.
- High-end feature sheets for prospective Buyers to take with them - helping to set your home apart from competing homes.
- Floor plans - supplying buyers with the information they need to make an informed decision.
- Strategic print media marketing.
- Leading internet marketing – realtor.ca, royallepage.ca, discoverroyallepage.com, dalebryant.ca, northumberlandrealestate.ca, icx.ca, worldproperties.com and more.