Second Wave Stalls County Real Estate


Despite a general slowdown in County real estate in November brought on the Covid-19 second wave, dhe average price for homes continued to increase.


Chart show that existing homes sales fell by 60 from the September peak to reach near a near-normal level during November.

November home sales in the County fell almost 60% from their peak in September.

Sales usually fall off each year at the holidays approach, but the decline this year was much larger than normal.

Chart shows how existing homes sales in Prince Edward County plummeted during November 2020 as the second wave of Covid-19 hit Toronto.

Sales during March and April hit historic lows as with the declaration of the pandemic state of emergency in mid-March, then took off toward record highs as the province began to open up in May and June.

The reverse may be at work this fall, as sales have fallen rapidly as Covid-19 cases in Toronto exploded again.


Chart shows that while active listings for existing homes increased slightly during November 2020, they remained far below normal levels.

Although though there was a slight increase in existing home listings from October to November, listings were still nowhere near normal levels for the month.

The resurgence of Covid-19 has certainly inhibited listings.

In addition, the recent record high prices may mean that anyone who was inclined to sell had already sold by November.


Chart shows that although the number of months of existing homes for sale doubled from October to November 2020, it was still far below normal.

Inventory was nearly doubled from October to November, but still remains at a fraction of normal levels. Buyer choice remains limited.

Selling Over Listing Price

Chart shows that the percentage of existing homes sold at or over listing price fell during November 2020, but was still high compared to normal.

Despite the fall in sales during November, the number of homes selling at or above asking price remained at a record high level during November. Not a lot are selling, but those that are selling are selling for a lot.

Selling In 7 Days or Less

Chart shows that the percentage of existing homes which sold in 7 days or less fell to a normal level during November 2020.

The time required to sell was the area which saw the largest change in November.

During the summer peak market up to 80% of homes sold in a week or less.

However, as Covid-19 rebounded in November, the percentage of homes selling in a week or less fell dramatically to normal levels. 

Average House Price

Chart shows that the average price for existing homes sales rose to an all-time high of $769,000 during November 2020.

Despite the general fall off in the market in November, the average price for existing homes sold in November increased again to a new record high.


November appears to be a re-play of March and April when Covid-19 shut down the market.

The second wave of Covid-19 is likely to have the same impact as the first wave, convincing even more people from urban areas to seek the freedom and relative safety of rural areas like the Coun

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