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April 2023 Update
DID YOU KNOW?
- The average sale price is DOWN 3.8% from this time last year
- Inventory levels continue to be in favour of Sellers, with 2 months of inventory in the City of Peterborough (that means it would take 60 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 27 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.
Cover photo credit: Brian Parypa
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
April 2021 Update
DID YOU KNOW?
– The average sale price is up 29% from this time last year
– Inventory levels continue to be in favour of Sellers, with 0.5 months of inventory in the City of Peterborough (that means it would take 15 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 48 sales last month
– Record-low mortgage rates, pent-up buyer demand, low inventory and a sudden wave of relocations made possible by remote work have all contributed to strong sales and price appreciation during Covid-19
Take a look at the local stats for April 2021, and reach out if you have any questions. Whether you are buying, selling, or just daydreaming about a new home, I can help you make an informed decision.
