This Week in Real Estate Vol 4 – Peterborough and the Kawarthas

This week’s profile picture is courtesy of Jay Burton and Gail Burton from Royal Lepage. A stunning cottage that sold this past week. We really are fortunate here in the Peterborough area to be surrounded by beautiful lakes and rivers. 

News & notes from this week

  • The Pig’s Ear currently has an offer in play on it. No word if one of the conditions of the agreement is a tray of 50.
  • Largest gain over asking price was in Peterborough this week at nearly $35,000 over asking price.
  • The ever contentious Cannabis Culture store this past week had the word “leave” spray painted on their front window while currently being closed. The word was quickly removed.
  • A million dollar home was listed in the City this past week. For more information, click here or search the list below.
  • Average home selling price last Sept 1 in PTBO was $289,000 – this Sept 1, average price is $316,000.
  • The last three months of residential sales on the Peterborough and Kawarthas real estate board has seen all-time highs in the number of residential properties sold for each month of June, July, August.

A few high priced properties also sold this past week. Each listed below were offered for more than 1 million dollars. Congratulations to the new owners of the following properties:

Pictures above are the property of the listing brokerages or original owner and were public d0main available through the CREA DDF feed.

Strategy guide

I talked last week about the REALTORS strategy of “holding offers.” To recap, holding offers is a strategy used to help their clients achieve the best price possible by putting the property on the market, allow showings but not allowing offers until a particular time in the future. So I tracked all solid sales since August 28. All 117 solds, checked every one and then charted each. Here is what I found:

Under 200 200-250 250-300 300-350 350-400 Over 400 Totals
Holding offer strategy 3 6 18 2 1 4 34
Times/price strategy worked 0 4 12 9 1 3 29
# Who didn’t use strategy 10 13 20 10 14 20 87
Houses that went over list 1 3 3 1 4 3 15

A few things to deduce from here:

1)  The strategy worked 85 percent of the time (29 of 34 times).

2) Eight of the nine times the strategy worked it pushed a house in the 250 to 300 phase above 300.

3) The chart above will not show you but the 250-300 slot produced 16 sales that averaged $18,000 more sales dollars.

4) 17% of houses that did not use holding offers strategy still managed an over list sales price.

If you are in the $250-300K range, it may be prudent while the market is still bearing the results to price your house a bit under perceived market value and hold offers. 87% of the homes using the strategy achieved above ask. It should also be noted that many of those deals were “clean” (little to no conditions) and/or firmed up solid within 10 days.

Starting next week, I will post the tables below in bar graph format for historical purposes and continue to illustrate in the next four week segment the price ranges that continue to lead to over asking prices. Some reasonable assumptions can be made based on the previous four weeks:

  • The $200,000 to $300,000 represents many of the “starter” homes in the area which are such a valued and hot commodity – for City and out-of-town residents.
  • Those same priced homes are deemed to have great value by out-of-town residents who have been conditioned to pay much more for the same commodity in Durham or the GTA.
  • This is the first week of the four that the total percentage of houses sold over list has dipped below 40% in Peterborough. This could be caused by low inventory or that the market is slowing due to time of year – NOT because the market is perceiving to grow weaker.

In Peterborough, since August 28th, 112 houses sold with 44 over list (39.3%). Here is the breakdown within price ranges.

Price Range – Peterborough listings Sold above list since Aug 28, 2016
Under $200,000 4
$200,000 to $249,999 11
$250,000 to $299,999 15
$300,000 to $349,999 4
$350,000 to $399,999 4
$400,000 and up 6

In Peterborough County since August 28th – 121 properties sold with 23 over list (19.0%). Here is the breakdown within price ranges.

Price range – Ptbo County listings Sold above list since Aug 28, 2016
Under $200,000 5
$200,000 to $249,999 4
$250,000 to $299,999 4
$300,000 to $349,999 2
$350,000 to $399,999 1
$400,000 and up 7

Here are new listings that came onto the Peterborough real estate board for this past week in the City of Peterborough. All listings are courtesy of the Peterborough and the Kawartha’s Association of Realtors members. Cancelled listings are those that have come to the market this past week and then subsequently cancelled. The listing address and brokerage name has been removed from the list. The links to each address are to the public realtor.ca  or therealtorptbo.ca website.

If you would like me information or to book a showing, feel free to call myself OR a Realtor you trust!

Address Price Type Listing Agents
196 CHARLOTTE ST, PETERBOROUGH $55,000 Commercial List: Bowes & Cocks Limited Brokerage 011
268 REID ST, PETERBOROUGH $224,500 Residential List: Century 21 United Realty Inc. Brokerage 040
869 CLONSILLA AVE # PH26, PETERBOROUGH $234,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
694 LITTLE ST, PETERBOROUGH $239,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
823 ORPINGTON RD, PETERBOROUGH $245,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
CANCELLED LISTING, PETERBOROUGH Residential
965 HIGH ST, PETERBOROUGH $248,000 Residential List: Homelife Preferred Realty Inc. Brokerage
681 WHITAKER ST # 2, PETERBOROUGH $249,900 Residential List: Flat Rate Realty Corp. Brokerage
661 RUBIDGE ST, PETERBOROUGH $249,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
781 FRANK ST, PETERBOROUGH $259,900 Residential List: Mincom Kawartha Lakes Realty Inc. Brokerage
360 SUMMERHILL DR, PETERBOROUGH $269,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 187
793 WATER ST N, PETERBOROUGH $269,900 Multifamily List: Royal LePage Parkway Realty Brokerage
3995 WALLACE POINT RD, PETERBOROUGH $274,900 Multifamily List: Century 21 United Realty Inc. Brokerage 040
668 BELLAIRE ST, PETERBOROUGH $274,900 Residential List: Flat Rate Realty Corp. Brokerage
650 RIVER RD S, PETERBOROUGH $279,900 Residential List: Century 21 United Realty Inc. Brokerage 040
1088 BAKER ST, PETERBOROUGH $285,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
1490 TAMBLIN WAY, PETERBOROUGH $295,000 Residential List: BOWES & COCKS LIMITED, BROKERAGE – 4 –
11 FERNDALE AVE, PETERBOROUGH $299,900 Residential List: Just 3 Percent Realty Inc. Brokerage
1487 FAIRMOUNT BLVD, PETERBOROUGH $299,900 Residential List: Realty Guys Inc. Brokerage
1100 AFTON RD, PETERBOROUGH $349,900 Residential List: Century 21 United Realty Inc. Brokerage 040
1298 ARMOUR RD, PETERBOROUGH $359,900 Residential List: Royal Lepage Frank Real Estate Brokerage 035
186 FARRIER CRES, PETERBOROUGH $364,900 Residential List: Mincom Kawartha Lakes Realty Inc. Brokerage
688 FORTYE DR, PETERBOROUGH $369,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 182
233 TOBIN CRT, PETERBOROUGH $369,900 Residential List: Royal Lepage Frank Real Estate Brokerage 035
5 AMY`S CRT, PETERBOROUGH $384,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
2663 FOXMEADOW RD, PETERBOROUGH $389,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
644 TULLY CRES, PETERBOROUGH $419,900 Residential List: Flat Rate Realty Corp. Brokerage
1263 HAGGIS DR, PETERBOROUGH $424,900 Residential List: Century 21 United Realty Inc. Brokerage 040
580 NAISH DR, PETERBOROUGH $879,000 Residential List: McConkey Real Estate Corp. Brokerage
1071 PARKHILL RD W, PETERBOROUGH $1,000,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
AIRPORT RD, PETERBOROUGH $2,500,000 Commercial List: Royal LePage Parkway Realty Brokerage
MERVIN LINE, PETERBOROUGH $2,500,000 Commercial List: Royal LePage Parkway Realty Brokerage

Here are new listings that came onto the Peterborough real estate board for this past week in the City of Peterborough. All listings are courtesy of the Peterborough and the Kawartha’s Association of Realtors members. Cancelled listings are those that have come to the market this past week and then subsequently cancelled. The listing address and brokerage name has been removed from the list. The links to each address are to the public realtor.ca  or therealtorptbo.ca website.

If you would like me information or to book a showing, feel free to call myself OR a Realtor you trust!

Address Price Type Listing Agents
7TH LINE, HAVELOCK-BELMONT-METHUEN *no public feed available* $29,900 Farm List: Re/Max Eastern Realty Inc. Brokerage 180
163 COLE RD, HAVELOCK $70,000 Farm List: PEAK LOCAL REAL ESTATE INC, Brokerage – BELLEVILLE
11TH LINE, DOURO $99,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 178
22 POINT DR, KEENE $114,900 Residential List: Bowes & Cocks Limited Brokerage 016
CLYDSDALE RD, CHANDOS TWSP $149,000 Residential List: RE/MAX COUNTRY CLASSICS LTD., Brokerage
422 COUNTY RD. 46 HWY, HAVELOCK BELMONT METHUEN $149,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 186
1265 LAKEHURST RD, PETERBOROUGH $187,500 Residential List: Flat Rate Realty Corp. Brokerage
46 QUEEN ST # A&B, NORWOOD $199,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 186
6289 HIGHWAY 7 HWY, HAVELOCK $217,900 Residential List: Century 21 United Realty Inc. Brokerage 040
60 LONG ISLAND, SOUTH MONAGHAN $227,500 Residential List: Royal Lepage Frank Real Estate Brokerage 036
2303 SOUTH BAY RD, DUMMER $255,000 Residential List: Royal LePage Frank Real Estate Brokerage 034
78 MCFADDEN RD, NORTH KAWARTHA $274,500 Residential List: Royal LePage Frank Real Estate Brokerage 033
28 CENTURY BLVD, MILLBROOK $274,900 Residential List: ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE-Cob-133
2261 MONCRIEF LINE, CAVAN $289,900 Residential List: Realty Guys Inc. Brokerage
26 ALMA ST, NORWOOD $299,500 Residential List: Bowes & Cocks Limited Brokerage 016
307 SEVENTH LINE, DOURO $334,900 Residential List: Mincom Kawartha Lakes Realty Inc. Brokerage
2701 OLD NORWOOD RD, OTONABEE SOUTH MONAGHAN $345,000 Residential List: Century 21 United Realty Inc. Brokerage 040
1223 HERITAGE LINE, KEENE $349,900 Residential List: Flat Rate Realty Corp. Brokerage
42 FIRE ROUTE 40, BUCKHORN $350,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 177
62 FIRE ROUTE 74 D, NORTH KAWARTHA LAKE/TWP OF ANSTRUTHER $369,900 Residential List: BOWES & COCKS LIMITED, Brokerage
52 FIRE ROUTE 59A, HAVELOCK, BELMONT, METHUEN $369,900 Residential List: Bowes & Cocks Limited Brokerage 016
1990 PARKHILL RD W, SELWYN $379,000 Residential List: Re/Max Eastern Realty Inc. Brokerage 182
22 FIRE ROUTE 277 B, TRENT LAKES $389,900 Residential List: Bowes & Cocks Limited Brokerage 013
34 LIBRARY RD, NORTH KAWARTHA $389,900 Residential List: Royal LePage Frank Real Estate Brokerage 033
2895 ANTELOPE TRL, SELWYN $419,900 Residential List: Royal Lepage Frank Real Estate Brokerage 035
1585 11TH LINE, SELWYN $429,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
4408 COUNTY ROAD #29, LAKEFIELD $474,900 Residential List: Just 3 Percent Realty Inc. Brokerage
473 COUNTY ROAD 4 RD, DOURO $489,000 Residential List: Century 21 United Realty Inc. Brokerage 040
1790 SELWYN RD, LAKEFIELD $529,000 Farm List: Re/Max Eastern Realty Inc. Brokerage 182
17 KING ST W, MILLBROOK $599,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 181
321 ANTELOPE TRL, NORTH KAWARTHA $619,900 Residential List: INTERBOARD LISTING
9 HALL DR, BUCKHORN $679,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 182
314 FIRE ROUTE 33, HAVELOCK $699,000 Residential List: Bowes & Cocks Limited Brokerage 016
1873 YOUNG`S POINT RD, SELWYN $775,000 Residential List: Royal Lepage Frank Real Estate Brokerage 035
2301 BUCKHORN RD, SELWYN $899,000 Residential List: Bowes & Cocks Limited Brokerage 013
587 ROUND LAKE RD, HAVELOCK $947,000 Residential List: PEAK LOCAL REAL ESTATE INC, Brokerage – BELLEVILLE
1337 LONGVIEW DR, CAVAN-MONAGHAN $979,900 Residential List: Re/Max Eastern Realty Inc. Brokerage 182
142 PETERSON LANE, APSLEY $1,400,000 Residential List: INTERBOARD LISTING
35 FIRE ROUTE 36A, BUCKHORN $1,469,000 Residential List: Royal Lepage Frank Real Estate Brokerage 035
2112 TRUMAN DR, SELWYN $1,490,000 Residential List: Buy/Sell Network Realty Inc. Brokerage
171 FIRE ROUTE 22, NORTH KAWARTHA $2,495,000 Residential List: Bowes & Cocks Limited Brokerage 013

Understand that real estate is forever changing and evolving. It is not possible to consistently remedy and update links below as they sell – particularly if you are reading this post on or after September 25th. I will not be going back through and unlinking addresses as they come off the public site after September 25 for this post nor previous posts. If you would like a link of previous posts to compare stats or listings please click below.

TWIRE VOLUME 3TWIRE VOLUME 2, TWIRE VOLUME 1

Please read: These lists are meant to illustrate new listings that have come for sale on the Peterborough and Kawartha Association of Realtors real estate board. Any mistakes, errors or omissions are oversights and the responsibility of the listing brokerages to remedy. This list is not complete. Any omissions to these lists may be the result of sensitive listings (a business wishing to keep advertising to a minimum, some commercial listings). All listings are MLS unless otherwise noted (Exclusive, private).

Mark Million is a Realtor with Bowes and Cocks Limited, Brokerage in Peterborough. If you would like a free opinion of value or ways to market your home differently contact me. If you want free advice on any real estate question or scenario you may have, by all means contact me. All information or conversation disseminated through WordPress or any other means of correspondence between myself and you is not intended to solicit those currently under contract.

 

 

 

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