The market continues to be interesting, to say the least. With spring now here, we’re starting to see more activity reflected in both prices and sales. Locally in the city of Peterborough, there were 72 sales in March. The average sale price also saw a noticeable increase, rising from $543,857 in February to $570,485 in March.
Looking at Peterborough County (which includes the city and surrounding areas), the average sale price in March was $597,912. This is often the number you’ll see referenced on social media, but it’s important to note that it includes areas outside the city itself and Peterborough and across those surrounding communities, there were an additional 47 sales in March.
From what I’m seeing on the ground, there is still competition in the market. However, even in multiple-offer situations, many homes are not necessarily selling over the list price. Buyers are often coming in more cautiously, sometimes submitting offers below asking and looking to negotiate. Just this past weekend, I had several showings booked—three of the properties received offers, and one of those had multiple offers.
If you’re curious about how your specific neighbourhood or surrounding areas are performing at, feel free to reach out anytime—I’m always happy to provide an update! I can be reached by call or text at 705-313-4611 or email johnmatthewhogan@gmail.com