Real Estate Statistics:
Below you will find the most recent statistics collected from the Peterborough and Kawarthas Association of REALTORS showcasing the market activity From January to the end of August, 2015
1 - The "Stats you Should Know" details a number of sales/listing information across the entire board focusing on Single Family homes.
A few things to notice:
- We are still lacking inventory!!! There were 18.23% LESS homes listed for sale at the end of August in comparison to last year this time!! The market is hot, there are a tremendous amount of buyers out there looking for the perfect home and much fewer options
- Our average list price is up 5.14% from last year this time - a result of there being fewer homes listed for sale giving Sellers the advantage when pricing their homes
- The average market time and List to Sale Price ratio is comparable to last year and fairly consistent overall
- The average sale price has appreciated by 5.3%, again as a result of there being more competition for buyers looking to purchase. We have seen a large amount of multiple offer situations over the past few months given that fewer homes are being listed for sale and yet the amount of buyers looking have stayed fairly consistent or even increased at times given the all time low interest rates
- The percentage of homes that failed to sell was at 41% at the end of August. Typically this number is closer to 50% however we have noticed that this number has decreased due to the fact that buyers who are in need of finding a home are often settling on a property that may not be 100% what they hoped for....also due to the competitive market and lack of inventory.
2 - The graph below shows that since May of this year we have consistently seen fewer properties listed for sale on a monthly basis since 2013.
3 - The graph below showcases the price points of all of the single family homes that have sold since January 2015, listed and sold on the Peterborough and Kawartha's Association of REALTORS Board.
- As you can see, the majority of the sales in this area have fallen between the $220,000 and $260,000 price points. We are finding that homes within this range are in hig demand and tend to sell quicker and at a higher list to sale price ratio IF priced appropriately on the marketplace.
4 - The following graph details the listings vs sales in each sub-district both within the city limits and in rural communities within our board.
For questions on where each sub-district is and where your home would fall in terms of comparison to recent sales activity feel free to reach out to me at any time! My contact information (both email and phone) are at the top of this page
5 - This chart is very useful in detailing exactly what is happening within the city limits of Peterborough specifically
- you will notice here that the average days on market in the city is much lower than that of the entire board
- the average sale price is up as is the number or sales we had in August in comparison to 2014
- in looking at the "Rule of Thumb" described at the bottom of the page, and applying to the different price points within the chart, you will notice that in nearly all of the price ranges (minus three) we are experiencing a Seller's Market
- again, this is a result of the shortage in inventory in comparison to the buyer demand.
6 - For those of you who are more visual - the report below highlights a lot of what has already been discussed above
7 - This final graph is so very informative and really puts things into perspective comparing 2014 to 2015 across the board!
- we had a record breaking August in terms of dollar sales and on the year we are also up tremendously
- The amount of residential listings is down from last year by 2.82% and yet for the month of August we saw a shortage of 15.27% in residential listings!!! - this explains why buyers are having to move so quickly and are often paying more than asking price fro the property of their choice
- the average sale prices are up across the board other than vacant land sales where we saw a decrease.
In summary I would like to emphasize that the need for new listings in the Peterborough area is currently so high.....the need for quality, well priced homes is where we are really lacking!!
The market is Stronger than it has been in years in terms of sales abd you could use this to your advantage in the near future!
If you are curious what your home may be worth in this marketplace feel free to reach out to me - I am happy to help in any way that I can!!
For a detailed Neighbourhood Market Report showcasing exactly what is happening or has happened in your area please give me a shout either by email or phone! I would love nothing more than to educate you on the true market value of your home!
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