DID YOU KNOW?
- The average sale price is UP 2.2% from this time last year
- Inventory levels have slowed down (which is typical for summer), with 2.6 months of inventory in the City of Peterborough (that means it would take 78 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)
- Houses in the West end of Peterborough are selling the most – with 29 sales last month
** Important to 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)
- A seller’s market = 4 months of inventory or less and a balanced market = 4-6 months of inventory.