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January 2023 Update
DID YOU KNOW?
- The average sale price is DOWN 22% from this time last year
- Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 2.1 months of inventory in the City of Peterborough (that means it would take 63 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 North end of Peterborough are selling the most – with 20 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.
December 2022 Update
DID YOU KNOW?
– The average sale price is DOWN 20% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 2.3 months of inventory in the City of Peterborough (that means it would take 68 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 North and West ends of Peterborough are selling the most – each having 12 sales last month
** Important to Note:
Cover photo credit: Brian Parypa
November 2022 Update
DID YOU KNOW?
– The average sale price is DOWN 9% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 2.8 months of inventory in the City of Peterborough (that means it would take 84 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 North end of Peterborough are selling the most – with 13 sales last month
** Important to Note:
Cover photo credit: Brian Parypa
October 2022 Update
DID YOU KNOW?
– The average sale price is DOWN 5% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 2.18 months of inventory in the City of Peterborough (that means it would take 65 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
Cover photo credit: Brian Parypa
September 2022 Update
DID YOU KNOW?
– The average sale price is DOWN 6.64% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 2.26 months of inventory in the City of Peterborough (that means it would take 68 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 15 sales last month
Cover photo credit: Brian Parypa
August 2022 Update
DID YOU KNOW?
– Even though the average sale price is DOWN from the peak earlier this year, it is still UP 4% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 2.10 months of inventory in the City of Peterborough (that means it would take 63 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 21 sales last month
Take a look at the market snapshot for August 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.
Cover photo credit: Lori McKee
July 2022 Update
DID YOU KNOW?
– The average sale price is up 2.7% from this time last year (things are starting to level out from the peak in February)
– Inventory levels continue to be in favour of Sellers, however, there is quite a shift in the market, with 2.47 months of inventory in the City of Peterborough (that means it would take 74 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
The market is shifting and prices are a little more reasonable now vs. earlier this year (the average sale price is down about 17% from the peak in February). 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 July 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.
Drone cover photo credit: Fine Homes Photography
June 2022 Update
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
May 2022 Update
DID YOU KNOW?
– The average sale price is up 18% from this time last year
– Inventory levels continue to be in favour of Sellers, however, there is a shift in the market, with 1.29 months of inventory in the City of Peterborough (that means it would take 39 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: the last time we had over 1 month of inventory in the City of Peterborough was May 2020
– Houses in the West end of Peterborough are selling the most – with 31 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 May 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.
April 2022 Update
DID YOU KNOW?
– The average sale price is up 23% from this time last year
– Inventory levels continue to be in favour of Sellers, with 0.90 months of inventory in the City of Peterborough (that means it would take 27 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 37 sales last month
Prices are coming down compared to the last few months, which is good and healthy. Average list-to-sale price ratio is down about 10% from last month (which again, is a good thing). Nice to see.
Take a look at the market snapshot for April 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.
📷 Chemong Lake sunset cover photo credit: Mike Kirkpatrick
