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Northumberland Real Estate Report – July

Wow – SUMMER !!

We Had Some Rain !!!

What a year – in so many ways a lot like other summers. The waterfront festival the beach the farmers market getting more local produce every week.  But in a lot of way different than any year we’ve ever seen.

In my report I didn’t include the Year To Date Totals

To The End of July – total number of homes sold

northumberland real estate report

In many ways the Northumberland real estate market is acting in a predictable way. On the selling side we see the sales chart tracking in a classic pattern. The monthly sales have been a little higher but the general trajectory has been similar to other years. It’s not unusual for sales in the more urban areas such as Cobourg, Port Hope Grafton to start to decline after June or July and we are seeing that happen now. The more rural areas of Hope, Hamilton and Haldimand Townships would normally follow along. In fact during July we saw a 30% decline in monthly sales – which is bringing the Northumberland County total sales for the year almost on a par with the same time period last year. This is something that needs to be watched.

Here is a video that was made in 2009 that is just as relevant today. Knowing what’s happening is always the best way to move forward.

The biggest challenge is on the inventory side. For some reason the people of Northumberland – be it Cobourg or Hamilton Township, Port Hope or Haldimand are simply choosing to stay put at record numbers. We seen our inventory shrink at a very steady rate for the last 3 years. At the end of July we had fewer homes available for sale than any year on record. If the second half of the year tracks as previous years have we should expect that number to continue to decline.

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Northumberland Home Values Group all rights reserved.

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