The Peterborough Market in November 2017



Freehold Properties:

Lowest sale price = $165,000
(for a 4bed/2bath cottage on Crystal Lake)
Highest sale price = $3,980,000
(for an 8bed/6bath waterfront estate on Stoney Lake)
Average days on market = 54
(properties took between 2-206 days to sell)
Average ratio of list to sold price = 98%
(Properties sold between 90-106% of the list price)
How Nov/17 compared to Nov/16 = sold prices were up on average 11.99%
Worth Noting: 39% of properties sold under $400k in November
Months of Inventory =  1.9 (combined Freehold & Condo)
(demand is high & inventory is low, putting pressure on prices in November) 

Condo Properties:
Lowest sale price = $380,000
(for a 2bed/2bath apartment in the downtown core)
Highest sale price = $1,198,500
(for a 1+2bed/4bath bungalow townhouse in Northcrest)
Average days on market = 16
(properties took between 9-23 days to sell)
Average ratio of list to sold price = 98%
(properties sold between 96-99% of the list price)
How Nov/17 compared to Nov/16 = stats not available for Nov/16
Worth Noting: Monthly condo fees ranged in price from $516-$627
Months of Inventory =  1.9 (combined Freehold & Condo)
(under 5mos of inventory indicates a Seller's Market) 
 
So what does all this mean?
Demand is up again in Peterborough in November with inventory levels remaining quite low - the combination of these 2 factors are keeping the market very tight & putting pressure on prices.

Peterborough continues to offer many options & good bang for the buck in the under $400k price range bringing in many first-time buyers who have been priced-out of the Durham region.


If you’re interested in exploring different price points or locations just hit reply on my email & I can include those for you in my next update!