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In one month the sale price for real estate in Peterborough, Ontario has gone down by $72,000. So what that means is that the average sale price for real estate in the City of Peterborough for March was $801,000 and in April, it was $729,000. This is the difference in sale prices in just one month and we’re seeing a complete change in the housing market.
What we’re seeing is:
– Conditions are being put into offers, including inspections and financing.
– Bidding wars are becoming obsolete with of trend of not occurring as much.
So what does that mean for homebuyers?
If you’re trying to get into the housing market to buy a home and you’re a first-time buyer, now is the time for you. Timing is key. Just recently a house in Peterborough was listed for $379,000 and it sold at the asking price. A rare occurrence for the City of Peterborough, not only that it sold at the asking price but also the listed price for the 2 Bedroom home in the city.
Looking to get your foot into the housing market?
You know where to find me:
Carrie Brockhurst
☎️ 289-200-5444
📧 carrie.brockhurst@century21.ca
📍 Century 21 United Realty Inc
Peterborough, Ontario
Watch the video above on Youtube and check out more of my real estate-related content.
Carrie’s Youtube
