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

 

 

 

 

 

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