This Week in Real Estate – Volume 7

This past week the Canadian Mortgage and Housing Corporation released their Housing Market Outlook for Peterborough and Surrounding area. It is a detailed 14 page report with projections they forecast for 2017 and through 2018. Here is a snapshot of the highlights from the report. If you would like a copy of the report, please click here and select the report from September 2016.

  • This year residential sales are on track to set a new record. Between 2,985 and 3,150 sales are expected to occur.
  • The average MLS® sale price in Peterborough will continue to grow at the rate of four to five per cent through 2018. It will finish this year within the range of $310,000 to $314,000.
  • Based on Statistics Canada population estimates, at the end of 2015 every third person living in the region was older than 55 and every fourth person was older than 60.
  • In 2018 the number of renters is expected to increase more. Fewer people will be transitioning into home ownership due to growth in mortgage carrying costs caused by higher prices and slightly higher mortgage rates.
  • Mortgage rates are expected to increase very modestly over the period 2016-2018.
  • Migration will remain positive because of the attractiveness and affordability of Peterborough’s housing market compared to Toronto and Durham Region. In-migration (intra-provincial & inter-provincial) will stimulate demand for all types of new housing over the forecast horizon.
  • Price growth will be in the four to five per cent range.

IT CERTAINLY IS ALSO WORTH NOTING THAT INVENTORY IS COMING WAY DOWN! On September 17th, my website had 909 active listings. Head there today and there are over 400 less than there was 5 short weeks ago!

In Peterborough, since September 25th – 22 properties sold with 9 over list (40.9%). This is the single highest percentage in a week since we started to record stats (August 28). Here is the breakdown within price ranges.

Price Range – Ptbo listings Aug 28-Sept 25 Sept 25-Oct 23 Since Oct 24
Under $200,000 4 0 1
$200,000 to $249,999 11 1 1
$250,000 to $299,999 15 7 3
$300,000 to $349,999 4 3 1
$350,000 to $399,999 4 2 1
$400,000 and up 6 2 1

In Peterborough County, since October 24th – 49 properties sold with 6 over list (12.2%). Here is the breakdown within price ranges.

Ptbo County listings Aug 28-Sept 25 Sept 25-Oct 23 Since Oct 24
Under $200,000 5 2 1
$200,000 to $249,999 4 1 1
$250,000 to $299,999 4 6 0
$300,000 to $349,999 2 2 1
$350,000 to $399,999 0 2 1
$400,000 and up 7 2 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 Price Total # Of Bedrooms Type
410 COUNTRY LANE $49,900 Vacant Land
220 TOWERHILL RD E $199,900 4 Single Family
671 DONEGAL ST $209,900 4 Single Family
1111 WATER ST # 313 $229,900 2 Single Family
CANCELLED CANCELLED
10B SPRINGBROOK DR $229,900 3 Single Family
814 DONEGAL ST $254,900 3 Single Family
869 CLONSILLA AVE # 222 $279,900 2 Single Family
930 WENTWORTH ST # 104 $285,250 2 Single Family
930 WENTWORTH ST # 104 $285,250 2 Single Family
963 ARMOUR RD # E3 $299,000 3 Single Family
279 ARMOUR RD $299,900 3 Single Family
872 CUMBERLAND AVE $349,900 3 Single Family
617 ARMOUR RD $365,000 4 Single Family
746 HARGROVE TRL $379,900 5 Single Family
1037 GOLFVIEW RD $429,900 4 Single Family
2686 FOXMEADOW RD $450,000 5 Single Family
765 RIVER ROAD SOUTH $574,000 4 Single Family
1264 SCOLLARD DR $575,000 4 Single Family

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 PRICE MUNICIPALITY TYPE
PT.LT. 19 PIRATES GLEN DR $69,000 Bobcaygeon Vacant Land
CANCELLED  CANCELLED Single Family
798 WHITE LAKE RD $149,900 Kinmount Vacant Land
16 GEORGE ST N $179,900 Omemee Single Family
10 ANGELINE ST S $224,900 Lindsay Single Family
3104 LAKEFIELD RD $229,000 Selwyn Township Single Family
1457 TRENT DR $249,000 Asphodel-Norwood Cottage / Rec
LOT 9 FORD CRES $249,000 Township of Cavan Monaghan Vacant Land
35 HAWKE DR $258,500 Omemee Single Family
917 SETTLERS RD $259,900 Ops Twp Single Family
6670 HIGHWAY 35 HWY $270,000 Coboconk Commercial
38 FIRE ROUTE 17 $279,900  Havelock-Belmont-Methuen Cottage / Rec
45 MUSKIE DR $294,900 Little Britain Single Family
1786 9TH LINE $295,000 Lakefield Single Family
1367 COUNTY ROAD 4 $299,900 Douro Dummer Single Family
PONTYPOOL RD $300,000 Pontypool Vacant Land
177 BEEHIVE DR $359,900 Cameron Single Family
885 TINDLE BAY RD $399,500 Bridgenorth Single Family
3729 HIGHWAY 28 $399,900 Lakefield Single Family
18 LIBERTY LANE $459,900 Omemee Single Family
CANCELLED CANCELLED
10 CHRISTIE RD $509,900 Kawartha Lakes Single Family
5246 HIGHWAY 7 $549,900 Havelock-Belmont-Methuen NOT ADVERTISED
2877 HIGHWAY 7 $639,900 Reaboro Single Family
2877 HIGHWAY 7 HWY $639,900 Reaboro Single Family
399 HILLIS RD $719,900 Selwyn Township Single Family
1007 DEYELL LINE $999,000 Cavan Farm

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 30th. I will not be going back through and un-linking addresses as they come off the public site after October 30 for this post nor previous posts. If you would like a link of previous posts to compare stats or listings please click below.

TWIRE DOUBLE ED. VOLUME 6TWIRE VOLUME 5TWIRE VOLUME 4TWIRE VOLUME 3TWIRE VOLUME 2, TWIRE VOLUME 1

OTHER PAST ARTICLES: MAKE THE MOVE TO PETERBOROUGHCLOSING COSTS, FINISHING A BASEMENT GUIDELINES, THE LAZY REALTOR

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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