John  Owen

John Owen

Broker

RE/MAX IMPACT REALTY BROKERAGE*

Mobile:
905-434-0067
Office:
905-240-6777
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Real Estate in Northumberland and Peterborough

Peterborough Real Estate Market Report - February 2022

Last update: March 6, 2022

The real estate market in the Peterborough region continued to grow in February with another jump in prices, combined with a shortage of inventory.

Take a look at the following chart, which shows detached home prices for the entire Peterborough district:

Detached home prices Peterborough 2022

Selling prices reached a new all-time high in Peterborough, surpassing the mark set in January for all home types and also the record set for detached homes in January.

Prices had fluctuated after reaching a spring high in March. Since that time, however, prices have been consistently strong.

The following chart shows sale prices for all residential property types:

Home prices in Peterborough 2022

Sales volume for the Peterborough region has surged to a point above November after reaching a low for the year set last month. The increase in volume puts additional pressure on prices, as long as new listings don't keep pace.

Peterborough Real Estate Sales Volume 2022

Another common benchmark is called SPLP or Selling Price to List Price. It measures the sale price of a property in relation to its listed price. 

As you can see in the following chart, properties have gone from selling at about 12% above list price at this time last year to well over 25% above list price this year, with the number in February eclipsing the previous high set in January.

Selling price list price ratio Peterborough 2022

The Peterborough market has been in a strong seller's market for some time, indicating that market conditions favour sellers over buyers.

The following chart shows months of inventory (MOI), which is the amount of time it would take for listings to sell out if no new listings were added.

Sellers market Peterborough Real Estate 2022

A seller's market is when MOI is below 5. A balanced market is between 5 and 7, and a buyer's market is over 7 MOI.

The highest point in the past year was in April when this figure was about 1.1 for the region. It hit a new low in December - close to the 0.2 mark. It is now a very strong seller's market with that figure at about 0.5.

The following chart shows active listings (how many homes are for sale) in the Peterborough region.

Active listings for sale in Peterborough 2022

The number of active listings reached a low point for the past year in December. They are still really low (about 140) - in August of 2015 they were 1028 - in 2011 they were 1258.

If you are considering selling your property, now is a very good time.

Should you be looking to buy, it can be very competitive. Multiple offer situations are very common, so it pays to be well prepared. Speak with your lender to get a pre-approval, and work with an experienced Realtor to research listings and review recent sales of similar properties.

If you are interested in information on a specific area, please reach out to me anytime!

 

John Owen, Broker
RE/MAX Impact Realty, Brokerage
(905) 240-6777
Johnowen@remax.net


Recent Market Reports

January 2022

September 2021

August 2021

Market Reports - More Regions

Northumberland Region Real Estate Market Report

Durham Region Real Estate Market Report

 

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