Peterborough Real Estate Stats September 20, 2022

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

** 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.
The market is shifting and prices are a more reasonable now vs. earlier this year (the average sale price is down about 20% from the peak in March). 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 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

 

 

Peterborough Real Estate Stats August 17, 2022

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

** 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.

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

 

 

 

 

Peterborough Real Estate Stats July 21, 2022

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

Peterborough Real Estate Stats June 15, 2022

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.

Peterborough Real Estate Stats May 17, 2022

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

Peterborough Real Estate Stats April 13, 2022

March 2022 Update

DID YOU KNOW?

– The average sale price is up 27% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.54 months of inventory in the City of Peterborough (that means it would take 16 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 50 sales last month

It’s not so much a case of low inventory, but more to do with record demand. We do have more properties coming on the market this month, which seems to be helping out a bit…

Take a look at the market snapshot for March 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

 

 

 

 

Peterborough Real Estate Stats March 17, 2022

February 2022 Update

DID YOU KNOW?

– The average sale price is up 34% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.59 months of inventory in the City of Peterborough (that means it would take 17.7 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 33 sales last month

Take a look at the market snapshot for February 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 drone cover photo credit: Brian Parypa

Peterborough Real Estate Stats February 16, 2022

January 2022 Update

DID YOU KNOW?

– The average sale price is up 36% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.78 months of inventory in the City of Peterborough (that means it would take 23.5 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 Central area of Peterborough are selling the most – with 14 sales last month

– With looming interest rate increases, now is a great time to talk to a mortgage broker and lock in your rate

Take a look at the market snapshot for January 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 drone cover photo credit: Brian Parypa

 

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Peterborough Real Estate Stats January 18, 2022

December 2021 Update

DID YOU KNOW?

– The average sale price is up 35% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.18 months of inventory in the City of Peterborough (that means it would take 5 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 and Central area of Peterborough are selling the most – each with 11 sales last month

– With looming interest rate increases, now is a great time to talk to a mortgage broker and lock in your rate

Take a look at the market snapshot for December 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.

📷  Peterborough drone cover photo credit: Brian Parypa

Peterborough Real Estate Stats December 15, 2021

November 2021 Update

DID YOU KNOW?

– The average sale price is up 31% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.38 months of inventory in the City of Peterborough (that means it would take 12 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 and Central area of Peterborough are selling the most – each with 22 sales last month

– Interest rates are starting to go up, it’s a good time to talk to a mortgage broker and lock in a rate now

Take a look at the market snapshot for November 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.

📷 Little Lake cover photo credit: Emma Scott Designs