Peterborough Real Estate Blog

Peterborough Real Estate Market Update

Last updated March 3, 2025, at 10:55 a.m.

The Peterborough real estate market has finished February 2025. Market conditions have shifted back to a seller’s market with more buyer-friendly conditions in some of the region's outlying areas. Inventory has started to build somewhat from lows reached in December.

Buyers are starting to become active with the latest Bank of Canada interest rate drop on Jan 29. Another rate announcement is scheduled for March 12.  There have been significant improvements in rate offerings, so check with your lender or broker regarding your situation.

Mortgage rates have been volatile recently (even with the Bank of Canada rate drops), and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough inventory levels range from low to high, with 3.9 months of inventory (MOI) for the entire region. This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame.

Peterborough Real Estate Market February 2025

In February, home transactions reported had selling prices averaging 658,026 in the Peterborough region, with the average property selling at 97.7% of list price (SP/LP). This is a 16.5% increase from last month and a 4.1% increase from last February. 

Here is a look at the monthly average selling price over the past three years. Expect selling prices to continue to climb in the near future as the spring market emerges.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 60 days.

The average selling price of detached homes in the Peterborough region this month is just over 730,000 as shown in the map below.

The selling price to list price ratios in most Peterborough communities show figures close to 98%, as shown in the table at the top of the page.

The recent volatility in average sales price shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This provides a good opportunity for those interested in buying at the higher end of the market.

Some listings at lower price points are still posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Note how the sale price to list price ratio has averaged near the 97% mark. This shows that most properties are selling without multiple offers. Note where the red bars appear in the above chart. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 31.9. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings are lower in the winter months, as is normal. They are now starting to climb, signalling a return of confidence amongst sellers.

More active listings make having a plan to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. In competitive situations, they may also be pressured to remove conditions on their offers.

The sales rate for February has increased by 3.3% compared to last month and is down 25.4% compared to this time last year, with a pace of 3.4 units sold daily. The weather has severely hampered activity in the local real estate market this month.

The following chart shows the daily sales volume for the past two months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Those considering selling should work with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, reach out anytime if you want to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Peterborough Area Property Tax Rates

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and is an inductee to the RE/MAX Hall of Fame.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The Multiple Listing Service (MLS) for local regions is hosted by the Toronto Regional Real Estate Board (TRREB) making the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Compare Peterborough County and GTA Property Tax Rates

Last updated February 9, 2025

Property taxes vary significantly between municipalities in Peterborough County and the rest of Ontario.

You can also check out this article for Ontario Property Taxes by City 2024

This article explores rates including the following:

• Municipal tax rate

• Upper tier municipality tax rate (county or region)

• Education tax rate

It does not include other considerations, including these:

• One-time levies

• BIA charges

We include only the basics to provide a common baseline for comparison. There may also be minor differences between neighbourhoods in a given city. In those cases, we take the highest rate provided.

Tax rates for 2025 will be published here once available.

Peterborough County Tax Rates by City 2024

GTA Property Tax Rates 2024

Q. Who has the highest property tax rates in the GTA?

A. Oshawa has the highest property tax rate in the Greater Toronto Area for 2024 at 1.431742%

Q. Who has the lowest property tax rates in the GTA?

A. Markham has the lowest property tax rate in the Greater Toronto Area for 2024 at 0.680463%

Ontario Property Tax Rates 2024

Related articles:

Property Tax Calculator - Durham Region

Why are Property Tax Rates so High in Oshawa?

Peterborough Real Estate Market Update

Last updated January 2, 2025, at 1:30 p.m.

The Peterborough real estate market has wrapped up December 2024. Market conditions are balanced with more buyer-friendly conditions in the region's outlying areas. Inventory has dropped off from peak levels reached in September.

Buyers are still nervous about interest rates, even with recent drops in the Bank of Canada overnight lending rate.  Rates are affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have been volatile recently (even with the Bank of Canada rate drops), and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough inventory levels range from low to high, with 3.2 months of inventory (MOI) for the entire region. This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame.

Peterborough Real Estate Market December 2024

In December, home transactions reported had selling prices averaging 668,012 in the Peterborough region, with the average property selling at 97.6% of list price (SP/LP). This is a 7.3% increase from last month and 10.8% from last December. 

Here is a look at the average selling price monthly over the past three years. Sale prices rose sharply from the low in January of 2024 until May then dropped off until recently as inventory levels remained high relative to volume. Prices have rebounded, largely due to lower inventory relative to sales and improved buyer sentiment.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 60 days.

The average selling price of detached homes in the Peterborough region this month is just over 680,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 98%, as shown in the table at the top of the page.

The recent volatility in average sales price shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This provides a good opportunity for those interested in buying at the higher end of the market.

Some listings at lower price points are still posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Note how the sale price to list price ratio has averaged near the 98% mark. This shows that most properties are selling without multiple offers. Note where the red bars appear in the above chart. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 47.9. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months, as is normal. They climbed through the end of summer, putting pressure on selling prices (except in the lower price ranges) amid lower buyer competition. They are now dropping, signalling a return of demand.

More active listings make having a plan to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. In competitive situations, they may also be pressured to remove conditions on their offers.

The sales rate for December has decreased by 10.9% compared to last month and is up 32.5% compared to this time last year, with a current pace of 3.4 units sold daily.

The following chart shows the daily sales volume for the past two months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Those considering selling should work with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, reach out anytime if you want to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Peterborough Area Property Tax Rates

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and is an inductee to the RE/MAX Hall of Fame.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is hosted by the Toronto Regional Real Estate Board (TRREB) making the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated November 27, 2024, at 10:15 a.m.

The Peterborough real estate market is nearing the end of November 2024. Market conditions are balanced with more buyer-friendly conditions in the region's outlying areas. Inventory has dropped off from peak levels reached in September.

Buyers are still nervous about interest rates, even with recent drops in the Bank of Canada overnight lending rate.  Rates are affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have been volatile recently (even with the Bank of Canada rate drops), and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough inventory levels range from low to high, with 5.1 months of inventory (MOI) for the entire region. This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame.

Featured Listing:

14 Dawson Road, Peterborough

Welcome to 14 Dawson, a rare listing in this family-friendly exclusive community just minutes outside of Peterborough and an hour to greater Toronto. This well-built bungalow is situated on a gorgeous corner lot on a quiet street and perfectly combines quality with function. The main floor features three well-sized bedrooms including a primary with ensuite and walk-out to stunning back deck. With a family room and formal living room (or home office/formal dining room the world is your oyster) and a beautiful classic eat-in oak kitchen opening up to the backyard, 14 Dawson is welcoming for families, retirees, and entertainers alike. Your fully finished basement features a separate entrance to the garage, spacious bedroom and bathroom, and sprawling floorplan ready to be turned into an in-law suite with income potential or simply to expand your living space with plenty of room for activities! This description wouldn't be complete without showcasing the outdoor features such as immaculate lawns and gardens, new composite covered deck, extra wide driveway, and not one, but TWO attached garages and full Generac back-up power. This exclusive community of long-time residents doesn't see listings for sale very often and once you see it we know you'll see why!

Peterborough Real Estate Market November 2024

In November, home transactions reported had selling prices averaging 618,661 in the Peterborough region, with the average property selling at 96.9% of list price (SP/LP). This is a 3.6% decrease from last month and 7.5% from last November. 

Here is a look at the average selling price monthly over the past three years. Sale prices rose sharply from the low in January of 2024 until May then dropped off since then as inventory levels remain high.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 60 days.

The average selling price of detached homes in the Peterborough region this month is just above 630,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 97%, as shown in the table at the top of the page.

The recent volatility in average sales price shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This provides a good opportunity for those interested in buying at the higher end of the market.

Some listings at lower price points are still posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Note how the sale price to list price ratio has averaged near the 97% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 37.0. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months, as is normal. They climbed through the end of summer, putting pressure on selling prices (except in the lower price ranges) amid lower buyer competition. They are now dropping, signalling a return of demand.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. In competitive situations, they may also be pressured to remove conditions on their offers.

The sales rate for November has dropped by 31.6% compared to last month and is up 16.4% compared to this time last year, with a current pace of 3.9 units sold daily.

The following chart shows the daily sales volume for the past two months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Those considering selling should work with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, reach out anytime if you want to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Peterborough Area Property Tax Rates

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and is an inductee to the RE/MAX Hall of Fame.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) making the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated November 6, 2024, at 2:45 p.m.

The Peterborough real estate market has finished October 2024. Market conditions are balanced with more buyer-friendly conditions in the region's outlying areas. Inventory is near a high point since at least 2010, while sales volume has risen considerably from the quieter summer months.

Buyers are still nervous about interest rates, even with recent drops in the Bank of Canada overnight lending rate.  Rates are affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have shown some easing recently, and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough inventory levels range from low to medium, with 3.6 months of inventory (MOI) for the entire region. This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame.

Featured Listing:

14 Dawson Road, Peterborough

Welcome to 14 Dawson, a rare listing in this family-friendly exclusive community just minutes outside of Peterborough and an hour to greater Toronto. This well-built bungalow is situated on a gorgeous corner lot on a quiet street and perfectly combines quality with function. The main floor features three well-sized bedrooms including a primary with ensuite and walk-out to stunning back deck. With a family room and formal living room (or home office/formal dining room the world is your oyster) and a beautiful classic eat-in oak kitchen opening up to the backyard, 14 Dawson is welcoming for families, retirees, and entertainers alike. Your fully finished basement features a separate entrance to the garage, spacious bedroom and bathroom, and sprawling floorplan ready to be turned into an in-law suite with income potential or simply to expand your living space with plenty of room for activities! This description wouldn't be complete without showcasing the outdoor features such as immaculate lawns and gardens, new composite covered deck, extra wide driveway, and not one, but TWO attached garages and full Generac back-up power. This exclusive community of long-time residents doesn't see listings for sale very often and once you see it we know you'll see why!

Peterborough Real Estate Market October 2024

In October, home transactions reported had selling prices averaging 642,909 in the Peterborough region, with the average property selling at 97.0% of list price (SP/LP). This is a 4.8% decrease from last month and 6.2% from last October. 

Here is a look at the average selling price monthly over the past three years. Sale prices rose sharply from the low in January of 2024 until May then dropped off since then as inventory levels remain high.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 60 days.

The average selling price of detached homes in the Peterborough region this month is just above 660,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 97%, as shown in the table at the top of the page.

The recent volatility in average sales price shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This provides a good opportunity for those interested in buying at the higher end of the market.

Some listings at lower price points are still posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Note how the sale price to list price ratio has averaged near the 97% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 35.8. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months, as is normal. They climbed through the end of summer, putting pressure on selling prices (except in the lower price ranges) amid lower buyer competition. They are now dropping, signalling a return of demand.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. In competitive situations, they may also be pressured to remove conditions on their offers.

The sales rate for October has increased by 21.4% compared to last month and is up 44.1% compared to this time last year, with a current pace of 5.5 units sold daily.

The following chart shows the daily sales volume for the past two months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Those considering selling should work with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, reach out anytime if you want to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Peterborough Area Property Tax Rates

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and is an inductee to the RE/MAX Hall of Fame.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) making the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated October 6, 2024, at 10:55 a.m.

The Peterborough real estate market has wrapped September with balanced market conditions. Inventory is near a high point since at least 2010, while sales volume continues to lag.

Buyers are still nervous about interest rates, even with recent drops in the Bank of Canada's overnight lending rate.  Rates are affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have shown some easing recently, and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough inventory levels range from low to high, with 5.0 months of inventory (MOI) for the entire region. This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame.

Peterborough Real Estate Market September 2024

In September, home transactions reported had selling prices averaging 676,255 in the Peterborough region, with the average property selling at 97.1% of list price (SP/LP). This is a 2.9% increase from last month and is down 5.3% from last September. 

Here is a look at the average selling price monthly over the past three years. Sale prices rose sharply from the low in January of 2024 until May then dropped off since, with a rebound this month.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 60 days.

The average selling price of detached homes in the Peterborough region this month is just above 695,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 97%, as shown in the table at the top of the page.

The recent volatility in average sales price shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This provides a good opportunity for those interested in buying at the higher end of the market.

There are still some listings at lower price points being posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Note how the sale price to list price ratio has averaged near the 97% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 36.9. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months, as is normal. They have climbed steadily since then, putting pressure on selling prices (except in the lower price ranges) amid lower buyer competition.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. In competitive situations, they may also be pressured to remove conditions on their offers.

The sales rate for September has decreased by 14.4% compared to last month and is up 8.7% compared to this time last year, with a current pace of 4.6 units sold daily.

The following chart shows the daily sales volume for the past two months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Those considering selling should work with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, reach out anytime if you want to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Peterborough Area Property Tax Rates

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and is an inductee to the RE/MAX Hall of Fame.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) making the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated May 6, 2024, at 4:00 p.m.

Read the most current market report

The Peterborough real estate market finished April 2024 with conditions starting to favour sellers at some price points and locations. Inventory and sales volume continue to build up for the spring, though listings are starting to drop compared to the rate of sales.

Sales volume is rising, in line with seasonal norms, but is much higher than last year at this time. Buyers are still nervous with the inflation and interest rate situation, and rates are clearly affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have shown some easing recently, and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough Real Estate Market April 2024

Supply levels vary throughout the region, with 2.9 months of inventory (MOI) for the entire area. There are higher levels in some communities (outlying areas to the north and east). This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame. 

In April, transactions reported had selling prices averaging 709,536 in the Peterborough district, with the average property selling at 98.2% of list price (SP/LP). This is a 4.0% increase from last month and is down 7.5% from last April. 

Here is a look at average selling prices each month over the past three years. Prices climbed at a healthy pace over the first several months of last year, then fluctuated through September before dropping again. They have risen sharply since December.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 90 days.

The average selling price of detached homes this month in the Peterborough region is just under 740,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 98%, as shown in the table at the top of the page.

The recent performance in average sales price does not correlate with the relatively high average sale price to list price ratio. This shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This makes for a good situation for those interested in buying at the higher end of the market (until that situation changes).

There are still some listings at lower price points being posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Also, the sale price to list price ratio has averaged near the 98% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 29.2. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions. This number is dropping substantially recently, a sign that the market is heating up.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months last year. They had climbed steadily since then (with a dip at the end of the year), putting pressure on selling prices. They are climbing, but at a slower rate than sales volume.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. They also may have pressure in competitive situations to remove conditions on their offers.

The sales rate for April has increased by 11.6% compared to last month and is up 37.3% compared to this time last year, with a current pace of 5.8 units sold daily.

The following chart shows the daily sales volume for the past 3 months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Potential sellers should be working with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, give me a call anytime if you would like to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Durham Region Property Tax Rates - GTA and Ontario

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and was their number-one agent in GCI for 2022.

Direct - 905-434-0067
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) and will make the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated April 6, 2024, at 12:30 p.m.

Read the most current market report

The Peterborough real estate market is through March 2024 with conditions starting to favour sellers at some price points and locations. Inventory and sales volume continue to build up for the spring, though listings are starting to drop compared to the rate of sales.

Sales volume is rising, in line with seasonal norms, but is much higher than last year at this time. Buyers are still nervous with the inflation and interest rate situation, and rates are clearly affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have shown some easing recently, and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough Real Estate Market March 2024

Supply levels vary throughout the region, with 2.5 months of inventory (MOI) for the entire area. There are higher levels in some communities (outlying areas to the north and east). This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame. 

In March, transactions reported had selling prices averaging 689,512 in the Peterborough district, with the average property selling at 98.9% of list price (SP/LP). This is a 3.6% increase from last month and is down 3.2% from last year. 

Here is a look at average selling prices each month over the past three years. Prices climbed at a healthy pace over the first several months of last year, then fluctuated through September before dropping again. It has risen sharply since December.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 90 days.

The average selling price of detached homes so far this month in the Peterborough region is just over 705,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 99%, as shown in the table at the top of the page.

The recent performance in average sales price does not correlate with the relatively high average sale price to list price ratio. This shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This makes for a good situation for those interested in buying at the higher end of the market (until that situation changes).

There are still some listings at lower price points being posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Also, the sale price to list price ratio has averaged near the 99% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 39.3. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions. This number is dropping substantially recently, a sign that the market is heating up.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months last year. They had climbed steadily since then (with a dip at the end of the year), putting pressure on selling prices. They are climbing, but at a slower rate than sales volume.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. They also may have pressure in competitive situations to remove conditions on their offers.

The sales rate for March has increased by 3.0% compared to last month and is up 75.3% compared to this time last year, with a current pace of 5.3 units sold daily.

The following chart shows the daily sales volume for the past 3 months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Potential sellers should be working with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, give me a call anytime if you would like to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Durham Region Property Tax Rates - GTA and Ontario

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and was their number-one agent in GCI for 2022.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) and will make the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated February 27, 2024, at 1:30 p.m.

Read the most current market report

The Peterborough real estate market has reached the final week of February 2024 with balanced conditions at most price points and locations. Inventory is starting to ramp up for the spring.

Sales volume is rising, in line with seasonal norms, but is much higher than last year at this time. Buyers are still nervous with the inflation and interest rate situation, and rates are clearly affecting buyer budgets, though there are signs that this sentiment is starting to change.

Mortgage rates have shown some substantial drops recently, and getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough Real Estate Market January 2024

Supply levels vary throughout the region, with 2.7 months of inventory (MOI) for the entire area. There are higher levels in some communities (outlying areas to the north and east). This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame. 

In February, transactions reported thus far had selling prices averaging 651,270 in the Peterborough district, with the average property selling at 98.0% of list price (SP/LP). This is a 1.7% increase from last month and is up 1.3% from last year. 

Here is a look at average selling prices each month over the past year. The trend showed prices climbing at a healthy pace over the first several months of the year, then fluctuating through September before dropping again. It has risen sharply since December.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 90 days.

The average selling price of detached homes so far this month in the Peterborough region is just under 670,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 98%, as shown in the table at the top of the page.

The recent drop in average sales price does not correlate with the relatively high average sale price to list price ratio. This shows how much interest rate hikes have cut into buyer budgets. They are still active, just not buying higher-priced homes to the same degree. This makes for a good situation for those interested in buying at the higher end of the market (until that situation changes).

There are still some listings at lower price points being posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Also, the sale price to list price ratio has averaged near the 98% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 36.7. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions. This number is dropping recently, a sign that the market is heating up.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months last year. They had climbed steadily since then (with a dip at the end of the year), putting pressure on selling prices. They are climbing, but at a slower rate than sales volume.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. They also may have pressure in competitive situations to remove conditions on their offers.

The sales rate for February has increased by 1.1% compared to last month and is up 55.2% compared to this time last year, with a current pace of 3.8 units sold daily.

The following chart shows the daily sales volume for the past 3 months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Potential sellers should be working with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, give me a call anytime if you would like to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Durham Region Property Tax Rates - GTA and Ontario

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and was their number-one agent in GCI for 2022.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) and will make the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.

Peterborough Real Estate Market Update

Last updated February 7, 2023, at 12:05 p.m.

Read the most current market report

The Peterborough real estate market has wrapped up January and shows balanced conditions at most price points and locations. Sales volume and prices have picked up and could indicate an early spring market.

Buyer confidence is improving, with encouraging news on the inflation and interest rate situation, though rates are still affecting buyer budgets.

Mortgage rates have shown some drops recently, though getting a mortgage pre-approval (and rate lock) is essential for buyers who haven’t purchased yet.

Peterborough Real Estate Market January 2024

Supply levels vary throughout the region, with 2.8 months of inventory (MOI) for the entire area. There are higher levels in some communities (Havelock-Belmont, Galway-Cavendish, Otonabee-South Monaghan). This means that at the current pace of sales, with no new listings, all inventory would be sold within this time frame. 

In January, transactions reported had selling prices averaging 652,075 in the Peterborough district, with the average property selling at 96.9% of list price (SP/LP). This is a 8.2% increase from last month and is down 1.3% from last year. 

Here is a look at average selling prices each month over the past year. The trend showed prices climbing at a healthy pace over the first several months of last year, then fluctuating through September before dropping until December. They are now on the rise.

The following chart shows average daily selling prices for detached homes across Peterborough in the past 90 days.

The average selling price of detached homes so far this month in the Peterborough region is just over 680,000. 

The selling price to list price ratios in most Peterborough communities show figures close to 97%, as shown in the table at the top of the page.This figure is increasing, indicating that there is more pressure on prices to rise, as competition brings selling prices close to being above list prices.

There are still some listings at lower price points being posted with offer dates, where no offers will be considered until that date. This is intended to pressure buyers (given the relative shortage of listings) and generate multiple offers.

Also, the sale price to list price ratio has averaged near the 97% mark. This shows that most properties are selling without multiple offers. Note in the above chart where the red bars appear. For those days, the selling prices were above 100% - signalling that bidding situations made selling prices higher than list prices on average.

Days on market (DOM) averaged 53.3. DOM is the number of days it takes for a property to be sold firm, or without any outstanding conditions.

This figure had dropped substantially since the beginning of spring and was higher over the summer. Expect that figure to drop with the relative change in inventory levels.

Should new listings rise at a pace that is faster than current sales, then there would be more inventory for the pool of buyers to choose from, which will have the effect of reducing the sale price to list price ratio, then months of inventory stat, which leans the market closer to a balanced market.

Active listings had dropped in the winter months last year. They climbed steadily until October then have fallen off since. They are rebounding, but the pace of sales is stronger than the increase in listings.

More active listings make all the steps taken to compete among selling properties more important. When listings were more scarce, (including now but at lower price points) buyers were compelled to reduce expectations on location, property condition, etc. They also may have pressure in competitive situations to remove conditions on their offers.

The sales rate for January jumped by 37.5% compared to last month and is up 80.3% compared to this time last year, with a current pace of 3.5 units sold daily.

The following chart shows the daily sales volume for the past 3 months. 

.

Buyers will still find multiple offer situations in some locations and price ranges, particularly at lower price points. They are highly advised to get prepared - have their mortgage preapproval ready before looking at homes, and be prepared to view homes via photos and virtual tours as soon as they reach the market. With interest rates being volatile, and mortgage qualification rules under review, locking in a rate is more important than ever. Speak with your agent to discuss the process to move forward.

Potential sellers should be working with their agent to identify ways to set their home apart from competitive listings while reaching the widest possible audience.

If you are interested in seeing values for an area not shown or are interested in other figures, please comment below or contact me. As always, give me a call anytime if you would like to discuss this further without any obligation.

More Peterborough Area Real Estate Articles

Northumberland Real Estate Market Report

Durham Region Property Tax Rates - GTA and Ontario

Durham Region Real Estate Market Report

About the Author

John Owen, Broker, RE/MAX Impact

John is an award-winning broker with RE/MAX Impact Realty and was their number-one agent in GCI for 2022.

Office - 905-240-6777
Email - johnowen@remax.net

Member, Canadian Real Estate Association (CREA), Ontario Real Estate Association (OREA), Toronto Regional Real Estate Board (TRREB).

The recent amalgamation of the former Kawartha Lakes Association of Realtors (KLAR), Quinte & District Association of Realtors (QDAR) and Northumberland Hills Association of Realtors (NHAR) with the Durham Region Association of Realtors (DRAR) has resulted in a new, larger board representing all of these regions called the Central Lakes Association of Realtors (CLAR).

The Multiple Listing Service (MLS) for all of these regions is now hosted by the Toronto Regional Real Estate Board (TRREB) and will make the availability and sharing of MLS data across all of these areas much easier to access, to the benefit of buyers and sellers, and the real estate community. 

Figures shown are for the following property types: detached, semi-detached, condo townhouse, condo apartment, link, att/row/townhouse, co-op apartment, detached condo and co-ownership apartment.