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Home prices, sales up, but challenge continues with listings

A hot housing market continues – tempered by a low number of listings, in the Quinte area.

“We are now into the final quarter of 2020 and the real estate numbers reflect the ups and downs of a difficult year,” said Heather Plane, President, Quinte & District Association of Realtors. “The month of October showed significant increases for both residential and all property type sales compared to last year and the year-to-date sales figures also show an increase.”

Plane notes active listings continue to be a challenge – down 50 per cent compared to last year.

Prices of homes in the Quinte region continue to rise with an average price last month of $488,542 – a 28.9 per cent increase over October 2019. There were 395 residential sales for October 2020 – up from 270 sales for 2019, for an increase of 46.3 per cent.

The October 2020 sales for all property types was $216,086,741 reflecting a substantial increase of 85.1 per cent above October 2019, which was $116,716,199.

The October monthly sales for residential listings resulted in a similar increase of 88.6 per cent with $192,974,241 for 2020 compared to $102,320,649 for 2019.

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