HOME PRICES
HOUSE SALES MAY HAVE SLOWED
- Newswatch Newsroom
10/4/2012
HOUSE SALES MAY HAVE SLOWED ... BUT THEIR VALUE CONTINUES TO RISE. THAT'S ACCORDING TO THE LATEST SURVEY BY ROYAL LEPAGE. THE REAL ESTATE COMPANY SAYS THE AVERAGE PRICE OF A TWO-STORY HOME IN CANADA IS FOUR PERCENT HIGHER THAN LAST YEAR. WHILE THE NUMBER OF HOMES SOLD IN MOST CANADIAN CITIES IS DECLINING, HOME PRICES HAVE NOT DROPPED ALONG WITH IT. PRICES OF HOMES IN KINGSTON ARE UP BY 12-PERCENT OVER THE LAST FOUR YEARS. QUEEN'S REAL ESTATE EXPERT, JOHN ANDREW, CALLS THAT A RESPECTABLE MARKET.
JOHN ANDREW
"WE HAVE A VERY BALANCED MARKET. OUR SALES TO NEW LISTING RATIO IS EXACTLY FIFTY PERCENT, THAT IS AN ENVIABLE POSITION. WE HAVE GREAT STABILITY, I THINK WE WILL HAVE CONTINUED SLOW GROWTH IN THE KINGSTON MARKET OVER THE NEXT YEAR OR TWO."