Dave Chomitz cobourg real estate market report royal lepage pro alliance

July 2020 Northumberland Market Overview

An overview for or those who have not joined our community yet. Less Detail but some good stuff.

Cobourg – Port Hope Real Estate

The Northumberland county real estate market has seen a real push in demand over the month of July.  All types of properties in Northumberland.  Town homes and land in Cobourg, Port Hope, Grafton and Colborne all saw  a greater demand.  Bungalows as always are the most sought after homes.  But we also saw greater desirer by home buyers for 2 story homes and back splits.  Typically town buyers are looking for location and condition first, with water front or easy access to the water being a prime consideration.    Any house that allows for a waterfront lifestyle or brings living “small town Ontario” to the forefront will always see the greatest positive reception in the market place. 

Local Northumberland Home Buyers

We have always had a strong presence of local buyers.  Both first time buyers trying to get into the market and families that already own a home or property in Northumberland that for a host of reasons want to make a change.  It’s important to note that at this time we have not seen an increase of local people needing to move as a result of life changes caused by Covid 19.   The typical healthy local real estate market certainly exists all over Northumberland County.

Toronto & GTA Buyers

 We have however seen a real surge of city people looking to get out of the denser areas and into a more rural “safer” setting.  This situation has resulted in more than the normal number of home buyers.  As a result there has been greater pressure on the inventory – in fact there has been a spike in Sales in July.  Both for town properties but even more so for country homes and land.  Being able to get away has become a very attractive target for a lot of Toronto and GTA  home owners.  Hamilton Township, Alnwick / Haldimand, Cramahe and Ward 2 of Port Hope all offer tremendous opportunities for those looking to stay-cation should we see a second wave.   

Because of the reaction to the virus in March April and May we believe there will be an increase in demand for July – August and September.  We have seen now that July met this prediction.  Home and property owners looking to sell in August could be hitting the sweet spot of the year !!!

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Note: This report is based on information from the Northumberland Hill Association of Realtors (MLS) at the end of July. Some data may change marginally over the first few weeks of August.