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DID YOU KNOW?
- The average sale price is UP 8.5% from this time last year
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Inventory levels are closing in on a balanced market, with 3.2 months of inventory in the City of Peterborough (that means it would take 96 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)
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Home price appreciation is returning to normal seasonality
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Houses in the West end of Peterborough are selling the most – with 15 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 November 2023, 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
