May 2024 Update

by Kya Seguin

DID YOU KNOW?

The average sale price is UP 3.6% from this time last year
Inventory levels are still in favour of Sellers, with 2.2 months of inventory in the City of Peterborough (that means it would take 67 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 38 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.

Take a look at the market snapshot for May 2024, 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.

Cover photo credit: Brian Parypa

CENTURY 21 United Realty Inc. Brokerage

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387 George Street South
Peterborough, ON K9J 3E1
Office: 705-743-4444
Cell: 705-957-4354
kya.seguin@c21.ca

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