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As we welcome a new year, let’s take a moment to reflect on the December 2024 real estate market trends in Peterborough, Ontario. Understanding these statistics can provide valuable insights for both buyers and sellers as they plan their next moves in 2025.
December 2024 Snapshot
- Average Number of Sales: 48 (down 9.4% from December 2023)
- Average Sale Price: $595,602 (up 6.2% from December 2023)
- Number of Active Listings: 145 (up from 126 in December 2023)
- Average Days on Market: 35
What Do These Numbers Tell Us?
Sales Activity
The average number of sales decreased year-over-year by 9.4%, dropping from 53 in December 2023 to 48 in December 2024. This decline suggests a slightly cooler market, which could be attributed to rising interest rates, seasonal trends, or buyer hesitation as prices increase.
Average Sale Price
On the other hand, the average sale price saw a healthy increase of 6.2%, rising from $560,699 in December 2023 to $595,602 in December 2024. This upward trend highlights strong demand for housing, even as the number of transactions slowed. Sellers can take this as a positive sign that their properties are likely to fetch higher prices.
Active Listings
The number of active listings increased from 126 to 145, providing buyers with more options compared to the same period last year. However, with properties spending an average of 35 days on the market, competition among sellers remains steady, and pricing strategies will be critical for success.
Key Takeaways for Buyers
If you’re in the market to buy a home, the increased inventory might give you more opportunities to find a property that suits your needs. However, the rise in average sale prices indicates that affordability could be a concern. Partnering with an experienced real estate agent can help you navigate the market and identify the best deals.
Key Takeaways for Sellers
For sellers, the increase in average sale prices is an encouraging trend. However, with homes taking an average of 35 days to sell, it’s essential to price your property competitively and ensure it stands out. Investing in small improvements and staging could make all the difference.
Need Expert Advice?
If you’re curious about how these stats impact your specific real estate goals, contact us at Century 21 United Realty. Our team is here to help you make informed decisions in Peterborough and the Kawartha’s dynamic market. We always have an agent on duty to help. 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 CLAR/TRREB 2024 & InfoSparks®© 2023 MLS® Resale Residential. Information deemed reliable but is not guaranteed.
Highlighted below are some of the major areas we cover with our stats:
