Northumberland Real Estate Report
We’re leaving 2016 in the review mirror. Northumberland real estate may never be the same – but then again ….
It’s always nice at this time of year to review the Northumberland real estate market and see how things are going. At the start of a new year we like to look back to maybe identify trends or see changes. This report is about Northumberland County in general – please watch the real estate report video. These kinds of real estate market reports tend to be heavy on the numbers and can be a bit mind numbing. So today we are painting with a very wide brush and speaking in general terms. If you have specific interest in how your home or property real ates to the Northumberland real estate market. Be it a Cobourg home, or Port Hope condo, or Centerton country home just let us know. We would be happy to prepare a personal and private analysis of your home at no cost or obligation to you.
Wondering About Your Home ?
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As can be seen in the real estate market report video, the Northumberland real estate market has been experiencing a trend of shrinking inventory. There have been less homes coming on the market every year for the last 4 years. In every area – urban homes in Cobourg and Port Hope. Country homes in communities like Grafton, Centerton, Colborne and Camborne. And even farm properties in Hamilton Township, Hope Township or Alnwick / Haldimand Townships have all seen significantly reduced numbers.
At the same time we seen sales increasing.
This supply and demand crunch has resulted in almost 90% of all homes that have come on the market have sold. Bungalows, Condos, sidesplits, 2 story homes and even vacant land have all enjoyed a tremendous demand as inventory shrinks.
There are several results of this lack of available homes. One is we are seeing more and more people making quick decisions about the homes they are buying. Sometimes these decisions require significant compromises. Compromises that a typical family would normally not make. It may require choosing a different home style. A family that’s looking for a bungalow may have to settle for a 2 story or sidesplit. Some families have even had to adjust their expectations about community. We’ve seen families that started out targeting Cobourg end up buying a home in Port Hope or even Hamilton Township. In almost all cases the time frame is very accelerated.
What Home Buyers Are Doing In Northumberland
Now more than ever home owners in Northumberland that are thinking of making a change need to speak to the Northumberland Home Values group and have a FREE analysis of their home and where it fits in the todays real estate market. We consider your home, the community and location. But we also spend a great deal of time becoming familiar with your personal situation. Because for the first time in the Northumbumberland real estate market, the Sellers motivation and financial picture can play a very important role in market positioning.
Let us tell you how.