Peterborough and the Kawarthas Association of REALTORS® Inc.

The number of homes sold through the MLS® System of the Peterborough and the Kawarthas Association of REALTORS® Inc. totaled 239 units in June 2023. This was a significant increase of 32% from June 2022.

Home sales were 2.7% below the five-year average and 9.2% below the 10-year average for the month of June.

On a year-to-date basis, home sales totaled 924 units over the first six months of the year, declining of 20.2% from the same period in 2022.

“The latest market data paints a picture of robust growth and healthy activity in our local market. Sales increased an impressive 32 percent compared to June 2022, highlighting the strong demand in our region. New listings have also experienced a notable upswing,” said Jessica Hill, President of the Peterborough and the Kawarthas Association of REALTORS® Inc. “The increase in newly listed properties helped push overall inventory above the 500-home mark for the first time since October 2019. While there has been a decline compared to the same period last year, the MLS® HPI Composite Benchmark Price has remained relatively stable. These figures exemplify a flourishing real estate landscape characterized by heightened sales, a healthy supply of listings, and consistent pricing trends. It is an opportune time for both buyers and sellers to explore the market and capitalize on the favorable conditions available.”

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 $659,000 in June 2023, a decrease of 13.7% compared to June 2022.

The average price of homes sold in June 2023 was $749,394, edging down 0.6% from June 2022.

The more comprehensive year-to-date average price was $709,926, a decrease of 14.5% from the first six months of 2022.

The dollar value of all home sales in June 2023 was $179.1 million, up by 31.2% from the same month in 2022.

The number of new listings saw an increase of 15.6% from June 2022. There were 474 new residential listings in June 2023. This was the largest number of new listings added in the month of June in more than five years.

New listings were 20.5% above the five-year average and 16.8% above the 10-year average for the month of June.

Active residential listings numbered 529 units on the market at the end of June, a gain of 17.6% from the end of June 2022.

Active listings were 19.4% above the five-year average and 15.1% below the 10-year average for the month of June.

Months of inventory numbered 2.2 at the end of June 2023, down from the 2.5 months recorded at the end of June 2022 and below the long-run average of 2.4 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.