Housing Prices and 2020 Predictions

First off, Welcome 2020! Happy New Year everyone.

As we head into a new and exciting decade we are wishing you all the very best. It’s been an exciting year in our local market, with interesting twists and turns, which saw big announcements for Belleville and surrounding areas. If anything, 2019 kept us busy and definitley on our realtor toes.

Starting the year off right, we are watching the markets carefully, staying on top of current events, and ready to make some predictions for the year ahead. Here are our Top 3 Predictions for 2020:

• Data shows the price of houses in the area is on the rise. That’s right! December saw average prices sit around 320k and market life of listing at 42 days ( Quinte & District Association of Realtors, Market Watch- 2019). We expect to see these prices increase, and the average time of a house on the market go down. Higher price, less time to view.. see where we are going?

• Home prices in larger markets are once again on the rise as well. And with that, the number of buyers who can’t compete increase as well. So where will they go? Markets outside the urban centres are seeing a new wave of buyers entering into smaller markets, and with more people competing in a smaller markets, multiple offers will be the new norm.

• Renovations are King! Or Queen depending on who you are speaking with. In such a hot market, it’s important to have your home in tip top shape before listing, and in later posts we will tell you just how to do that. Get your kitchens sparkling, your bathrooms beaming, dig out the garage, and add a fresh coat of paint to your home for that show ready style.

  Knowing what your house is worth and having a good agent on your side will make all the difference. Lets us help you plan your listing strategy and book a Home Equity Report with us now.