Last week I was given the chance to present to the New Canadian Group on the state of the Real Estate Market in Peterborough. It was a wonderful opportunity for me, not only because the subject is one that is near and dear to my heart, but also because I feel that the current state of the market is particularly exciting right now.
As of the end of October 2012, the number of sales listed on the MLS was 2577, as compared to 2540 for the same period in 2011, and the total number of sales in October was a hearty 247. The total number of new listings was 444 and by the end of that month the number of active listings on the MLS was 1802.
Why is this so exciting?
What it means for you as a potential buyer is that if the current trend continues, if we continue to see more listings come on the market than actual sales, the market will eventually take a turn toward the buyer.
Another key point is that right now the average sales price in Peterborough for the 2012 year-to-date is $262, 001, which is up from $256, 615 at the same time last year, indicating a very modest price increase of 2.3%.
Given this, I would not hesitate to categorize the Peterborough market as being very stable at this time, definitely a great time to buy!
During my speech, I was also honored to be able to cover a variety of topics geared toward improving the home buying experience, such as how selecting the right real estate agent can make your journey easier as well as information on the topics of financing your home, from different types of mortgages to amortization schedules and additional costs you should expect.
I would invite you to contact me to discuss these topics at any time!
At Realty Executives Alison Ltd. our highly experienced staff is happy to share their expertise on any subject related to buying or selling your home, from selecting the right home from you, improving your home buying experience and any other issues that will help making your buying or selling process go as smoothly as possible.
Contact us today for all of your Real Estate needs at 705-749-9229!