Peterborough Real Estate Stats • September 20, 2022

August 2022 Update

by Kya Seguin

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

August 17, 2022

July 2022 Update

by Kya Seguin

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

July 21, 2022

June 2022 Update

by Kya Seguin

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

June 15, 2022

May 2022 Update

by Kya Seguin

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

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

by Kya Seguin

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

Housing Trends & Tips • February 9, 2022

3 mistakes to avoid when selling your home

by Kya Seguin

Here are 3 mistakes to avoid when selling your home

1. Not researching your current market.

2. Not understanding the pitfalls of not pricing right.

3. Not understanding the power of staging.

Whether you’re moving up to a larger home, downsizing or relocating, selling your home can be both stressful and rewarding. If you’ve been through the process before, you may think you’re ready to take on the home-selling procedure on your own, but even seasoned sellers can make mistakes that impact their bottom line.

Interested in learning more? Reach out to book a free consult today.

January 10, 2022

6 Home Improvements that Count

by Kya Seguin

Not ready to sell but thinking about renovating? Here are 6 home improvements that are not only attractive to homebuyers today, but will yield the highest return when you are ready to sell

1. Energy efficient upgrades

2. Fresh coat of paint

3. Finished basement

4. Kitchen/Bathroom remodel

5. Exterior improvements

6. Home office

Interested in learning more? Reach out to book a free consult today, to learn what you can do now to improve your home value.

Home Decor • December 22, 2021

Freshen Up Your Fireplace

by Kya Seguin

If you’ve been thinking that your fireplace could use a facelift, there’s no time like the present. Here are a few suggestions on how to give your fireplace a makeover before the coldest days of the year set in, so you can enjoy the new look all winter long.

1. Paint it

Nothing transforms a space more quickly and easily than paint, and that applies to fireplaces too. If you have outdated red brick on your fireplace, a few coats of white, black, or grey paint can transform it. You can knock this project out in an afternoon. First use a wire brush to clean the brick, then apply an oil-based primer, then apply the paint colour of your choice. Done!

2. Whitewash it

A subtler touch than paint, whitewashing can lighten up a dark fireplace and brighten up a room in the process. With whitewashing, you’ll skip priming the brick surface and simply apply a mixture of white paint diluted with water. Just make sure to test the mixture in an inconspicuous location on your fireplace before painting the entire surface.

3. Consider a stone veneer

With manufactured cast stone masonry blocks, you don’t need to be a stone mason to get an incredible look for your fireplace. Cast stone blocks are manufactured in a variety of shapes and styles that mimic natural types of stone. The product looks like real rock but it easier to cut with a saw at home and is designed to bond to a surface with mortar. While not exactly an afternoon project, adding a stone veneer to your fireplace can be tackled and completed in a weekend’s time.

4. Add a floating mantel

Create a decorative focal point for your fireplace by adding a mantel. Options here are endless: use a solid wood beam for a cottage feel, match existing furniture with a manufactured shelf, or double up with an upper and lower deck. A floating mantel can be installed in an afternoon; just make sure to use proper anchors in whatever surface you’re attaching to.

December 15, 2021

November 2021 Update

by Kya Seguin

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

December 10, 2021

5 reasons why most home buyers work with a real estate professional

by Kya Seguin

5 reasons why most home buyers work with a real estate professional

1. To save time, money and energy.

2. To avoid overpaying for a home.

3. To ensure your best interests are represented.

4. To negotiate the best price and terms on your behalf.

5. To have a stress-free, joyful home buying experience.

Most buyers today work with a real estate agent rather than go at it alone for many reasons. A great real estate professional will provide you with key market insights, sound advice and save you endless hours of time and money — all while helping you reduce the stress of a large purchase so you can truly enjoy the experience of buying your dream home.

Interested in learning more? Reach out to book a buyer consult today.