This Week in Real Estate – Volume 5 Peterborough and the Kawarthas

News & notes from this week

  • The City of Peterborough is on a five day “losing streak” as it pertains to listings going firm over asking price. This is a news and notes item considering since I have tracked the over asking price trend, the City has not experienced a five day slide. I’m sure that trend will be stopped Monday.
  • The County and surrounding area saw 70 properties go solid this past week. Cottages and vacant land led the moves, likely not surprisingly, considering the time of year. It is surprising – in relation to last month – as total volume for the preceding 4 weeks was 121 properties sold.
  • Of the few that went above asking in Peterborough this week, a west end property went $35,000 over asking, using the holding offers strategy. A valuable strategic tool for the right properties.
  • Twin pad arena meeting held on the same night of a Peterborough Petes game saw a turnout of ten people. Not exactly well thought out.
  • October 2015 saw 325 properties change hands within the PKAR board. An increase of 25% over the same month in the previous year. The market may be hard pressed to repeat this number.

Strategy Guide

In a market as strong as what we are experiencing, if you want to sell – do this – buy before you sell. In a seller’s market, it’s prudent to understand you do not want to be at the mercy of what the market bares when you sell yours. Buying first can be hard to swallow. Here are answers that make sense to common problems in this scenario.

  • What if my house doesn’t sell?
    • Every house will sell, it all depends on price. You don’t have to give it away, by any means, but you should be advised by your REALTOR a strategy to deal with the successful marketing and sale of your property before putting it on the market.
  • I can’t afford two payments mortgage payments!
    • In a scenario such as this, the insertion of a clause of Sale of Buyers Property (SOBP) is designed to protect you from having a two mortgage payments. Here’s how it works: Your Realtor inserts the clause, it has a built in escape clause of anywhere from 24 to 72 hours. If the seller accepts your offer, the house remains for sale on the market until your sells. The time inserted in the escape clause is the amount of time you have to firm up (buy it) or back out on buying the house. If you firm up, now you have no choice but to sell your house or risk two payments.
  • How should I price my house if I buy first?
    • Your Realtor would have advised you on price. Ultimately, price is negotiated between you and your Realtor. Remember, depending on variables such as the competition your home has geographically or price wise – you should try to stay at the lower end of your advised price range or try a holding offer strategy – that we discussed last week.

In Peterborough, since September 25th – 27 properties sold with 5 over list (18.5%). Here is the breakdown within price ranges.

Price Range – Ptbo listings Aug 28-Sept 25 Since Sept 25
Under $200,000 4 0
$200,000 to $249,999 11 0
$250,000 to $299,999 15 2
$300,000 to $349,999 4 0
$350,000 to $399,999 4 2
$400,000 and up 6 1

In Peterborough County, since September 25th -70 properties sold with 15 over list (21.4%). Here is the breakdown within price ranges.

Price Range – Ptbo County listings Aug 28-Sept 5 Since Sept 25
Under $200,000 5 2
$200,000 to $249,999 4 1
$250,000 to $299,999 4 6
$300,000 to $349,999 2 2
$350,000 to $399,999 0 2
$400,000 and up 7 2

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 more information or to book a showing, feel free to call me OR a Realtor you trust!

Address List Price Property type
287-289 GEORGE ST, PETERBOROUGH $119,900 Commercial/Pub
139 ROMAINE ST, PETERBOROUGH $164,900 Residential
46 LEAHYS LANE, PETERBOROUGH $199,900 Residential
79 PARKHILL RD W, PETERBOROUGH $215,000 Residential
500 CHAMBERLAIN ST, PETERBOROUGH $215,000 Residential
384 MURRAY ST, PETERBOROUGH $219,900 Residential
378 GEORGE ST S, PETERBOROUGH $224,900 Residential
229 EDINBURGH ST, PETERBOROUGH $259,900 Multifamily
79 RIDEAU CRES, PETERBOROUGH $269,900 Residential
383 APPLEGROVE AVE, PETERBOROUGH $269,900 Residential
176 PARKHILL RD E, PETERBBOROUGH $274,900 Residential
364 WELSH ST, PETERBOROUGH $279,000 Residential
1451 TAMBLIN WAY, PETERBOROUGH $279,900 Residential
980 GLEBEMOUNT CRES, PETERBOROUGH $289,900 Residential
2192 WALKER AVE, PETERBOROUGH $289,900 Residential
248 COWLING HEIGHTS, PETERBOROUGH $294,900 Residential
703 BARBARA CRES, PETERBOROUGH $295,000 Residential
650 RIVER RD S, PETERBOROUGH $297,900 Residential
1817 STRATTON AVE, PETERBOROUGH $299,900 Residential
589 GILMOUR ST, PETERBOROUGH $299,900 Residential
508 OTONABEE DR, PETERBOROUGH $299,900 Residential
169 CORAL DR, PETERBOROUGH $309,900 Residential
18 STONEBRIDGE CRT, PETERBOROUGH $314,900 Residential
311 SPILLSBURY DR, PETERBOROUGH $327,500 Residential
989 FAIRBAIRN ST, PETERBOROUGH $339,900 Residential
1484 IRELAND DR, PETERBOROUGH $374,900 Residential
143 POWELL CRT, PETERBOROUGH $379,900 Residential
1306 HAZELDEAN AVE, PETERBOROUGH $399,999 Residential
256 O`DETTE RD, PETERBOROUGH $449,900 Residential
657 WALKERFIELD AVE, PETERBOROUGH $619,000 Residential

Here are new listings that came onto the Peterborough real estate board for this past week in the County of Peterborough and some from the City of Kawartha Lakes. 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 more information or to book a showing, feel free to call me OR a Realtor you trust!

Address Listing Price Property Type
HWY 7A, CAVAN-MONAGHAN $54,900 Farm
4TH LINE RD, DOURO DUMMER $59,900 Residential
HWY 7A, TOWNSHIP OF CAVAN $64,900 Farm
NOT LISTED ONLINE
15TH SMITH LINE, SELWYN $84,900 Farm
35 CIRCLE DR, LINDSAY $120,000 Residential
10109 HIGHWAY 28, NORTH KAWARTHA $129,900 Residential
5 ELM GROVE RD # 8, KEENE $159,000 Residential
20 CEDAR BAY RD, CURVE LAKE $174,900 Residential
CANCELLED CANCELLED
2283 COUNTY RD 36, DUNSFORD $187,900 Residential
1258 PORTAGE RD W, KIRKFIELD $195,000 Farm
3 HERITAGE WAY # 105, LINDSAY $199,900 Residential
128 COUNTY ROAD 121, FENELON FALLS $199,900 Residential
1057 PRIMROSE LANE, SMITH-ENNISMORE-LAKEFIELD $225,000 Farm
1596 CEDAR VALLEY RD, CAVAN $239,900 Residential
133 STURGEON GLEN RD, FENELON FALLS $239,900 Residential
720 EDEN AVE, BRIDGENORTH $245,000 Residential
137 MARYLAND DR, SMITH/SELWYN TOWNSHIP $249,900 Residential
21 BIRCH CRT, LINDSAY $259,900 Residential
348 RAINBOW DR, BAILIEBORO $269,900 Residential
1591 CEDAR VALLEY RD, CAVAN-MONAGHAN $274,900 Residential
152 NORTHERN AVE, TRENT LAKES $279,999 Residential
219 LOUISA ST, FENELON FALLS $284,900 Residential
15 EDWARDS DR, KEENE $292,900 Residential
1 LORAINE DR, BETHANY $309,900 Residential
12482 HIGHWAY 28 S, APSLEY – ANSTRUTHER $322,000 Residential
71 VICTORIA AVE N, LINDSAY $323,000 Residential
1624 COUNTY ROAD 620, NORTH KAWARTHA $324,900 Residential
4612 HIGHWAY 35, CAMERON $325,000 Farm
1525 CENTRE RD, DOURO DUMMER $329,000 Residential
8 DAVIS ST, BETHANY $329,900 Residential
 15 MENIE Road , CAMPBELLFORD $332,500 Single Family
54 MORRISON ST, NORLAND $349,000 Residential
2365 SELWYN BAY LANE, SMITH $349,900 Residential
151 FIRE ROUTE 12, BUCKHORN $355,000 Residential
1323 HAYES LINE, CAVAN $359,000 Residential
1258 COUNTY RD 8 RD, FENELON FALLS $359,900 Residential
826 COTTINGHAM RD, OMEMEE $359,900 Residential
96 QUEEN ST, LINDSAY $369,900 Commercial
277 COUNTY ROAD 504, APSLEY $387,700 Residential
71 HILLSIDE DR, LITTLE BRITAIN $399,900 Residential
2369 SELWYN BAY LANE, SELWYN $409,900 Residential
2 ELGIN ST, LINDSAY $427,500 Residential
813 COUNTY ROAD 40, NORWOOD $447,000 Residential
58 RIVER RD, LINDSAY $459,900 Residential
168 BICK ST, BOBCAYGEON $469,000 Residential
5 LONGFIELD DR, BETHANY $469,900 Residential
5 LISA CRT, MILLBROOK $484,900 Residential
1708 HOOTON DR, CAVAN $489,900 Residential
1822 & 1828 TRENT RIVER RD, HAVELOCK-BELMONT-METHUEN $498,000 Residential
LOT 1 BLACK BEAR DR, FENELON FALLS $499,000 Farm
1880 12TH LINE, SELWYN $499,900 Residential
2407 BROWN LINE, CAVAN $509,900 Residential
3738 HIGHWAY 35 N, CAMERON $525,000 Residential
763 PERRIN POINT RD, BAILIEBORO $525,000 Residential
255 WEST ST S, FENELON FALLS $557,900 Residential
20 ORIOLE RD, FENELON FALLS $574,900 Residential
21 TRENT VIEW RD, KIRKFIELD $585,000 Residential
598 ROHALLION RD. CANAL LAKE RD, KAWARTHA LAKES $598,000 Residential
1425 FIRE ROUTE 45, NORTH KAWARTHA $599,900 Residential
279 SNUG HARBOUR RD, LINDSAY $639,900 Residential
21 OSPREY TRL, KIRKFIELD $724,900 Residential
71 QUARRY RD N, TRENT LAKES $749,000 Residential
287 ARNOTT DR, ENNISMORE $775,000 Residential
30 (PREV. 1386) SAUNDERS RD, TRENT LAKES $895,000 Residential
35 ESTURIAN RD, BOBCAYGEON $998,000 Residential
78 PORTAGE HWY E, KAWARTHA LAKES $1,190,000 Farm
816 OLD MILL RD, OMEMEE, EMILY $1,299,000 Commercial
333 ENNIS RD, ENNISMORE $1,350,000 Residential

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 October 2nd. I will not be going back through and un-linking addresses as they come off the public site after October 2nd 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 4TWIRE 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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