Facebook
Twitter
Pinterest
Copy Link
May 2023 Update
DID YOU KNOW?
- The average sale price is DOWN 10.8% from this time last year
- Inventory levels continue to be in favour of Sellers, with 1.6 months of inventory in the City of Peterborough (that means it would take 48 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 39 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
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.
May 2021 Update
DID YOU KNOW?
– The average sale price is up 37% 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 17 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 59 sales last month
– Record-low mortgage rates, pent-up buyer demand, low inventory and 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 May 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.
