cobourg port hope real estate report dave chomitz

May 2020 Real Estate Report – Northumberland

This has been a different year for sure.




The local real estate market is acting just about the way we would expect it to under the current circumstances.  With access so limited, almost scary for many families, we are seeing the activity slow.   As you know, at the Cobourg Home Values group, Northumberland Real Estate Reports we made the decision that during the lockdown we would only work with home buyers and sellers that absolutely needed to be active in the market place.   There is no question that some families are going through some big changes.  With the pandemic came a shut down of the economy.  Cobourg, Port Hope and all of Northumberland County have experienced this. 

The impact of the slow down could make money tight.  Some families will suffer more than others.  Some will have to make some hard choices.  Those choices may include moving.  That may mean selling a real property holding, maybe vacant land or a cottage / retreat property.  Unfortunately it could even mean selling the family home.  For those people we are here, ready to help navigate the troubled waters we are sailing through.

But this is not the time for anyone to be in the market for anyone who does not need to be.  There are no bargins to be had at the moment.  Inventory is down so choice is limited.  There are fewer buyers in the market so even for Northumberland home sellers the chance for profit is reduced.