The Peterborough Real Estate Market is as Strong as ever!
I would like to take the time to share with you some statistics comparing 2013 sales activity to 2012 when looking at the entire Peterborough and Kawartha’s Association of REALTORS® Board taking into consideration all price points and sub districts.
Click HERE to have a look at the detailed “2013 Year in Review” giving a breakdown of the sales activity and trends in each of the sub-districts within the City of Peterborough.
In order to find sales statistics specific to your neighbourhood consider the following:
- The city is broken into sub districts. At the top of each page it will show what sub district is being discussed and at the bottom of each page it will show a map few of the boundary lines
- 1 UHTS, 1 NORTH, 1CENT and 1SOUTH sub districts are all considered the NORTH END of Peterborough
- 2 CENT, 2 NORTH and 2 SOUTH sub districts are all considered the WEST END of Peterborough
- 3 NORTH, 3 OLD WEST and 3 SOUTH sub districts are all considered CENTRAL and OLD WEST END of Peterborough
- 4 CENT, 4 NORTH and 4 SOUTH sub districts are all located on the EAST side of Peterborough included East City
- 5 EAST and 5 WEST sub districts are all considered to be in the SOUTH END of Peterborough
Also included in this YEAR IN REVIEW are charts and graphs showing the changes in the average sale prices over the last 10 years for different styles of *SINGLE FAMILY HOMES
The charts at the end of this review show the trends and changes in the past 10 years in different types of real estate sales including: single family homes, cottage and recreational properties, farms and vacant land.
* Additionally, as shown in the charts below you will see that although we didn’t have as many *SINGLE FAMILY sales in 2013 as in 2012, and our inventory was down as well comparing the two years, all of the other numbers are true indicators of a very positive year and stable market.
To recap a few highlights...
1 – The total amount of *SINGLE FAMILY home sales over the year was only DOWN by approximately 2.5%. With 2012 being our strongest year in terms of number of sales since 2008, I can confidently say that the fact that the number of sales were down is not a concern. (see Stats You Should Know & Historical Stats Charts)
2 – The total number of *SALES (including farms, commercial property, vacant land etc.) was right on par with last year with a total of 2919 sales in 2013 compared to 2020 in 2012. Although as a whole we had almost exactly the same number of sales you will see by looking at the PKAR STATS 2006-2013 chart that the total dollar value was up significantly from last year.
3 – The total active Inventory (amount of * SINGLE FAMILY HOMES available for sale with a REALTOR® as of the end of the year) was DOWN by approximately 18.3% when comparing 2013 to 2012! This statistic shows that at the end of December with a lot less homes available, and TOTAL sales for the year being around the same year on year, there was a real shortage of inventory out there for buyers looking to purchase a home.
--- This is an excellent time to think about listing your home for sale! – If you are waiting for the spring market you may be missing out on a fantastic opportunity to take advantage of the same amount of buyers out there with less to choose from!
4 – The average market time for *SINGLE FAMILY HOMES was UP from 66 days on average to 63 days meaning that on average homes listed for sale on the market sold a little quicker than the year before (see Stats You Should Know)
5 – The average sale price for *SINGLE FAMILY HOMES was also up from $262,194 in 2012 to $267,074, a total increase of approximately 1.9% (see Stats You Should Know)
6 – A shocking 48% of *SINGLE FAMILY HOMES listed in 2013 failed to sell!! This is a statistic that is rarely shared with homeowners when their sales representative meets with them to list their home for sale. This statistic emphasizes the importance of pricing your home appropriately, at or fairly close to market value if in fact you do wish for it to sell in a reasonable time frame. (see Stats You Should Know)
7 – The majority of *SINGLE FAMILY HOME sales in all of 2013 fell between the price points of $180,000 and $259,900 with 934 of the TOTAL sales throughout the year selling within this range. (see SALES GRAPH 2013)
- It is important for you to know historically how many properties priced similar to yours have sold in years prior. This will be a good indicator on how long it could potentially take for you to sell yours depending on the number of buyers that typically purchase in the price point your home is listed in
- For Example a home priced between $220,000 and $239,000 will frequently sell quicker (if priced accurately) than a house priced between $450,000 and $479,900 simply because of the amount of buyers out there looking in that price range. This doesn’t always apply however it is relevant and should be considered.
Click HERE to review the "Stats you Should Know" as seen below
Click HERE to review the "Historical Statistics" as seen below
Click HERE to review the "PKAR STATS 2006-2013 chart
Click HERE to review the "2013 Sales Graph"
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