Peterborough and the Kawarthas Association of REALTORS® Inc.

Peterborough and the Kawarthas Association of REALTORS® Inc. MLS® home sales post average showing in April

The number of homes sold through the MLS® System of the Peterborough and the Kawarthas Association of REALTORS® Inc. totaled 219 units in April 2022. This was a large decline of 28.9% from April 2021.

Home sales were 11.7% above the five-year average and 4.9% below the 10-year average for the month of April.

On a year-to-date basis, home sales totaled 756 units over the first four months of the year decreasing 11.2% from the same period in 2021.

“Sales activity was down from last year’s very strong April to more average levels for this time of year,” said Kate Kidd, President of the Peterborough and the Kawarthas Association of REALTORS® Inc. “New listings came in at a healthy level in April, raising overall inventories from historical lows. Price gains remain strong and will likely continue to do so for the next few months, but it’s the bigger picture over the remainder of the year and the coming interest rates increases that we’re really looking at to see how the market plays out.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $793,500 in April 2022, a large gain of 31.5% compared to April 2021.

The average price of homes sold in April 2022 was $813,714, up by 18.9% from April 2021.

The more comprehensive year-to-date average price was $848,149, an increase of 22.4% from the first four months of 2021.

The dollar value of all home sales in April 2022 was $178.2 million, a reduction of 15.5% from the same month in 2021.

The number of new listings decreased by 8.6% from April 2021. There were 383 new residential listings in April 2022.

New listings were 24.3% above the five-year average and 5.7% above the 10-year average for the month of April.

Active residential listings numbered 244 units on the market at the end of April, a modest gain of 1.2% (three listings) from the end of April 2021.

Active listings were 30.9% below the five-year average and 58.3% below the 10-year average for the month of April.

Months of inventory numbered 1.1 at the end of April 2022, up from the 0.8 months recorded at the end of April 2021 and below the long-run average of 2.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

BOARD & ASSOCIATION INFORMATION

There are 700+ real estate professionals in the Peterborough and the Kawarthas Association of REALTORS® Inc. Members adhere to a strict code of ethics and the highest professional standards of the real estate industry. Peterborough and The Kawarthas Association of REALTORS® Inc. covers all of Peterborough County including members in the city of Peterborough and the communities of Ennismore, Bridgenorth, Lakefield, Millbrook, Norwood, Apsley, Bancroft as well as other adjacent rural communities.


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For more information,
please contact
:
(705) 745-5724
info@peterboroughrealestate.org

President
Kate Kidd