Listings shrink as home sales, prices soar

The average home resale price in Peterborough city and county in January was $327,033, up 9.7 per cent from a year ago.

The Peterborough and the Kawarthas Association of Realtors reported Tuesday that there were 156 property sales in January, up 19.1 per cent from 131 in January 2016, with residential sales of 137 units, a jump of 21.2 per cent from a year earlier.

January’s sales were above both the five- and 10-year averages for January sales in the district.

“As we had anticipated ... 2017 has continued to follow the trends put in place throughout 2016,” Dianne Tully, president of the Peterborough and the Kawarthas Association of Realtors, stated in a release.

As commuters continue to look further from Toronto for singlefamily houses due to tightness in the Greater Golden Horseshoe market, the available inventory in Peterborough is getting even slimmer.

There were 259 active residential listings on the association’s Multiple Listing Service system at the end of January, down 53.3 per cent from January 2016.

There were 188 new residential listings in January, down 17.2 per cent from January 2016.

The value of all home sales was $44.8 million in January 2017,up 33% from January 2016 and a record for the month of January.

The total value of all property sales was $50.3 million in January, up 34.2% from January 2016.

JANUARY SALES ACTIVITY BY PROPERTY TYPE

• Residential: 131

• Cottage/Recreational: 6

• Farms: 0

• Vacant Land: 12

• Income/Commercial/ICI: 7

• total: 156