The statement “people in the County are having sex” falls into the category of true…but misleading. It’s true because I’m sure someone, somewhere in the County is doing it, but in reality the other 25,000 of us are at work, or in our cars, or cooking dinner or sleeping, etc.
I mention this because I was having a coffee in my favourite hangout last week when I heard someone at the next table say “houses in the County are selling in two days”.
This is another case of true…but misleading.
During June there were five homes in Prince Edward County which sold in the first two days they were on the market…but the other 72 homes sold in June took longer.
Make no mistake: the County is a seller’s market right now and the time houses stay on the market has fallen dramatically.
As the chart shows, 9% of homes sold in the first week and 37% sold in the first month…but that’s not the same “houses in the County are selling in two days.”
From a buyer’s perspective, it pays to keep a cool head in a hot market.