The headline is not great. It says that between August and September the average price of homes across Canada fell by 3.1% and the biggest drops were in Victoria, Vancouver, and Hamilton.
Interestingly, prices have increased in Edmonton. We were talking to some agents from Edmonton this week and they said that snowbirds are moving to Edmonton because it’s lovely in the summer and they’re away in Arizona and Florida when it’s snowy.
So what’s happening locally here? Between August and September, the average price of homes in the Kingston market fell by 4.2%. The good news is that year over year they’re up 2.9%.
As we’ve always said, it’s not a crashing market, it’s a normalizing market.
If you’re interested in what’s happening with the value of your home, contact us.
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