Av­er­age home price $381K

The Peterborough Examiner - - NEWS -

A short­age in the sup­ply of re­sale homes con­tin­ued in Oc­to­ber in Peter­bor­ough city and county, re­sult­ing in lower sales com­pared to a year ago but a 2.5 per cent rise in the av­er­age sale price over last month.

The city and county had 200 res­i­den­tial sales in oc­to­ber, down 17.4 per cent from last Oc­to­ber and be­low the av­er­age for Oc­to­ber, the Peter­bor­ough and the Kawarthas As­so­ci­a­tion of Real­tors re­ported. The av­er­age sale price was $381,000, up from Septem­ber’s av­er­age price of $371,491.

“While sales ac­tiv­ity was still down on a year-over-year ba­sis in Oc­to­ber, record-low lev­els of in­ven­tory are keep­ing the bal­ance of sup­ply and de­mand tight,” stated as­so­ci­a­tion pres­i­dent Dianne Tully. “Even with the mod­er­a­tion of de­mand since May, there are still only two months of in­ven­tory in the mar­ket. That is his­tor­i­cally very low.”

There were 239 new res­i­den­tial list­ings on the as­so­ci­a­tion’s MLS sys­tem in Oc­to­ber, up 2.1 per cent from Oc­to­ber 2016. Over­all sup­ply re­mains low with just 410 ac­tive res­i­den­tial list­ings at the end of Oc­to­ber, a record low for Oc­to­ber.

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