Positive signs in real-estate market
Posted By Examiner Staff
Posted 2 hours ago 2:00 p.m. Friday August 14, 2009
July was a strong month for real estate sales on the local market.
In the Peterborough region, sales reached the highest levels in five years, a release from the Peterborough and the Kawarthas Association of Realtors stated.
There were 334 sales last month compared to 287 in July 2008, an increase of 47 sales. There were fewer new listings at 554 compared to 668 in 2008, but the overall listings in July 2009 increased to 2,177 up from 1,948 the previous year, the release stated.
Association president Barbara Criegern stated in the release that consumer confidence is returning partially because of low interest rates and affordable properties.
“First-time homebuyers have lead the charge with the category of sales between $150,000 to $250,000 accounting for over 50% of that increase.”
Criegern also stated that a reduction in the number of listings should increase the amount of activity for sellers and a shorter time properties would be on the market.
2:00 p.m. Friday August 14, 2009 The Peterborough Examiner…………………………