Real Estate Market Analysis for November 2023

In the ever-evolving landscape of real estate, staying informed about market trends is crucial for both buyers and sellers. As we delve into the statistics for the City of Peterborough, for the month of November 2023, it becomes evident that the local real estate market continues to exhibit resilience and growth.

Average Number of Sales

• November 2023: 59 sales
• November 2022: 57 sales
• Year-over-Year (YoY) Change: +3.5%

The city experienced a modest increase in the average number of sales, showcasing a positive trend in buyer activity. This uptick suggests sustained interest in the Peterborough real estate market, likely influenced by various factors such as economic stability and lifestyle appeal.

Average Sale Price

• November 2023: $646,903
• November 2022: $596,140
• Year-over-Year Change: +8.5%

One of the most notable aspects of the November 2023 statistics is the impressive 8.5% year-over-year increase in the average sale price. This significant uptick signifies a robust demand for homes in Peterborough, with buyers willing to invest at higher price points. Such appreciation in property values is not only encouraging for sellers but also reflects positively on the overall economic health of the region.

Number of Active Listings:

• November 2023: 188 listings
• November 2022: 162 listings

The increase in active listings from the previous year suggests a healthy inventory for prospective buyers. A balanced market with a sufficient supply of homes contributes to a more competitive and dynamic real estate environment.

Overall, the real estate market in Peterborough is showcasing positive trends in November 2023. With a notable increase in both the average number of sales and sale prices, the city continues to attract homebuyers and investors alike. The growth in active listings ensures a diverse range of options for prospective buyers, contributing to a balanced and vibrant real estate landscape.

As always, it’s essential to stay informed and seek the advice of experienced real estate professionals when making decisions in the current market. Need help to decide your next move? Don’t know what these numbers mean for you? We always have an agent on duty to help you. Call our office at 705-743-4444 and we will be happy to direct you to a REALTOR® to answer your questions.

*All data from ITSO. InfoSparks®© 2023 ShowingTime MLS® Resale Residential. Information deemed reliable but is not guaranteed.

Highlighted below are some of the major areas we cover with our stats: