Average home price $381K
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.