Peterborough Real Estate Market Update August 2008
It would seem that the City of Peterborough loves their Summer Olympics. When looking back to the summer games in 2004, I saw that the market dropped 6.14 %, with a spike of 18.6% in September of 2004 following the Summer Olympics. I believe we should see a similar spike in 2008.
When comparing this year to last year, I always like to remind the readers that last year was a record breaking year for MLS sales in Canada. So comparing the two years plays into the favor of the press who like to give us all bad news.
I'm glad to report that the numbers are not as bad as we hear on the radio or read in our local papers. We were only down 16 sales in the City of Peterborough for single family homes.
You can see by the table below, prices are on the rise, the average sale price in 2008 is $222,552, which is up +$8,657 (+4.05%) over last year. Total sales on the year are only down 60 units (-6.5%).
SINGLE FAMILY HOMES IN PETERBOROUGH, SUB-DISTRICTS 1-5
|
MONTHLY SALE/LIST REPORT
( Results for this 8 month period have been rounded to the nearest dollar and percentage ) |
|
Month |
Average List Price |
Average Sale Price |
Sale to List Price |
Average List Duration |
Number Of Sales |
|
AUG-2007 |
221652 |
215563 |
97% |
46 days |
119 |
|
JUL-2007 |
216781 |
209775 |
97% |
43 days |
119 |
|
JUN-2007 |
227657 |
222756 |
98% |
40 days |
128 |
|
MAY-2007 |
232231 |
226920 |
98% |
52 days |
147 |
|
APR-2007 |
215180 |
210288 |
98% |
38 days |
142 |
|
MAR-2007 |
219046 |
213070 |
97% |
38 days |
93 |
|
FEB-2007 |
203754 |
198436 |
97% |
36 days |
95 |
|
JAN-2007 |
211181 |
205149 |
97% |
52 days |
80 |
|
Averages: |
219534 |
213895 |
97 % |
43 days |
923
|
|
MONTHLY SALE/LIST REPORT
( Results for this 8 month period have been rounded to the nearest dollar and percentage ) |
|
Month |
Average List Price |
Average Sale Price |
Sale to List Price |
Average List Duration |
Number Of Sales |
|
AUG-2008 |
230898 |
222946 |
97% |
46 days |
103 |
|
JUL-2008 |
231605 |
223548 |
97% |
48 days |
118 |
|
JUN-2008 |
235448 |
229070 |
97% |
43 days |
121 |
|
MAY-2008 |
231634 |
226438 |
98% |
46 days |
138 |
|
APR-2008 |
220156 |
214308 |
97% |
46 days |
123 |
|
MAR-2008 |
225757 |
220308 |
98% |
54 days |
99 |
|
FEB-2008 |
227387 |
221994 |
98% |
50 days |
95 |
|
JAN-2008 |
226033 |
219613 |
97% |
47 days |
66 |
|
Averages: |
228871 |
222552 |
97 % |
47 days |
863
|
Considering last year was such a great year, only being down 6.5% is not bad at all. Peterborough Real Estate is very strong compared to other cities across the country.
Sincerely
Constantine Isslamow
Broker/Manager
Posted by Constantine Isslamow
on September 17, 2008