Real Estate Market Analysis for February 2025

by CENTURY 21 United Realty Inc. Brokerage

The February 2025 real estate statistics for Peterborough, Ontario, show some significant shifts compared to the same time last year. With fewer sales, a lower average price, and more inventory available, the market dynamics are noticeably different from February 2024.

Key Market Highlights:

Average Number of Sales: 56 (-36.4% year-over-year)
Average Sale Price: $597,205 (-3.0% year-over-year)
Active Listings: 161 (almost double last year’s 81)
Average Days on Market: 32

Sales Slow Down, Inventory Rises

One of the most notable changes in the market is the sharp decline in the number of homes sold. In February 2024, there were 88 sales, whereas this year saw only 56—a 36.4% drop. This suggests that either buyer demand has weakened, or sellers are holding out longer to get the prices they want.

At the same time, inventory has nearly doubled. With 161 active listings compared to 81 last year, buyers have more options to choose from, which could be contributing to the longer average time on the market.

Prices Dip Amid Changing Market Conditions

The average sale price in Peterborough has also seen a slight decline, dropping by 3% from $615,937 in February 2024 to $597,205 this year. While this is not a dramatic decrease, it indicates a cooling market where sellers may need to adjust their expectations and pricing strategies.

What Does This Mean for Buyers and Sellers?

For Buyers: With more listings available and fewer competing buyers, this could be an opportunity to negotiate better deals. However, with the average home still selling in about a month, desirable properties won’t stay on the market forever.
For Sellers: Pricing competitively and ensuring your home stands out will be key in a market with rising inventory and fewer buyers making offers. Working with a knowledgeable real estate professional can help you navigate these changing conditions.

Looking Ahead

As we move into the spring market, it will be interesting to see if buyer activity picks up or if inventory continues to build. Mortgage rates, economic conditions, and consumer confidence will all play a role in shaping the real estate landscape in Peterborough for the months ahead.

If you’re thinking about buying or selling, reach out to discuss how these market changes may impact your plans. Staying informed is the best way to make confident real estate decisions! Looking for a reliable and knowledgeable REALTOR®? 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.

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