What's Happening in Peterborough this Month? - June/July 2015

1. Rotary Ribfest 2015 - July 10 @ 4:00 pm - July 12 @ 5:00 pm

Food from some of Peterborough’s best restaurants? Check. Cold beer? Check. Live music? CHECK! Ribfest is back for its 11th year! Admission is free at the gate. Bring the family out for a great time and even better food!

Website: http://downtownptbo.ca/event/ribfest


2. Peterborough Music Fest – June 27 – August 22, 2015

Every year a town anxiously awaits an event that will showcase it’s uniqueness and sense of community. For two months in the heart of summer, Peterborough Musicfest galvanizes a city and greatly impacts an economy with 17 free concerts.  Popular bands such as Carly Rae Jepsen, Tegan and Sara, Walk Off the Earth, Emerson Drive, and Colin James have graced the Fred Anderson Stage at Del Crary Park. In 2015, Peterborough Musicfest was recognized as a Top 100 Festival and Event in Ontario. On the shores of picturesque Little Lake, Peterborough Musicfest, by entertaining locals with prominent live acts, generates a sizable economic impact to local business and tourist attractions. In 2010, an Economic Impact Study revealed that Musicfest provides a $4.8 million boost to the region through hotels, restaurants and shopping, with 125,000 attendees each year.   

This 8-week summer music event is funded completely through corporate sponsorship, government support at all levels, fundraising initiatives, and private donations.

Peterborough Musicfest is proud of the past 28 years and looks forward to season 29 being as entertaining as ever. The sparks begin at Del Crary Park every Wednesday and Saturday night from June 27, 2015 and ending on August 22, 2015. 

Website: http://www.ptbomusicfest.ca/


3. Real Estate Market Update – May 2015

May 2015 was a hot month for the Peterborough real estate market. It turns out that it was actually the hottest month on record in terms of sales volume and total value. Here are some quick stats:

  • 395 homes were sold (most on record);
  • $124,643,566 in real estate was transacted in the month of May alone. That marks the first time in Peterborough’s market history that monthly sales have surpassed the $100,000,000 mark (next highest was $98,912,486 in 2014);
  • Year to date sales ($393,903,235) are the highest they have ever been (next highest was $327,293,099 in 2010);
  • Total residential listings were markedly down from 2014 (-16.77%), indicating a shortage of available inventory for sale (total active residential also down -6.74% relative to 2014).

All in all, Peterborough’s real estate market is very healthy at the moment. The month of May saw some the best sales on record, while available inventory was noticeably lower than recent years. While the stats above don’t directly speak to it, the number of interested buyers in our market also seems to be quite healthy, as the surge of individuals from outside markets (particularly the GTA) into Peterborough seems to be fueling a seller’s market in certain pockets where inventory is low. This, in part, may explain the surge in sales, in terms of volume and totals.  

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