DID YOU KNOW?
– The average sale price is up 4.2% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is quite a shift in the market, with 2.13 months of inventory in the City of Peterborough (that means it would take 64 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)
** Note: When months of inventory goes up, prices come down, and when months of inventory goes down, prices go up (the law of supply and demand)
– Houses in the Central area of Peterborough are selling the most – with 29 sales last month
The market is shifting and prices are a little more reasonable now vs. earlier this year. Price decreases are happening, there is more inventory, longer days on market and not as many sellers “holding offers” as before (more are listing closer to market value and reviewing offers any time).
Take a look at the market snapshot for June 2022, and reach out if you have any questions. Whether you are buying, selling, investing, or just daydreaming about a new home, I can help you make an informed decision.
📷 Peterborough cover photo credit: Brian Parypa