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More inventory, fewer sales and lower prices mark a slower September
The Peterborough real estate market continued to cool in September 2026, with fewer homes changing hands and the average sale price falling compared with the same month last year.
According to September market statistics for the City of Peterborough, 71 homes sold, compared with 91 sales in September 2025. That’s a 22% year-over-year decline in sales activity.
The average sale price also moved lower, coming in at $567,733, compared with $624,074 a year earlier. That’s a 9% year-over-year decrease.
At the same time, the number of active listings remained relatively steady, with 368 homes on the market in September 2026 compared with 364 in September 2025.
Taken together, the numbers point to a market where buyers have more time and choice, while sellers are facing a more competitive environment.
Sales activity is down from last year
The most significant change in September was the number of homes sold.
There were 71 sales this September, 20 fewer than the 91 recorded in September 2025. That’s a 22% decline year over year.
A drop in sales doesn’t necessarily mean there are no buyers in the market. Rather, it can indicate that buyers are being more cautious, taking longer to make decisions or finding that current prices don’t align with their budgets.
For sellers, that means the market is less forgiving than it was when demand was stronger. Properties that are appropriately priced and well presented are more likely to stand out when buyers have more options.
Average prices have declined
The average sale price in September was $567,733, down from $624,074 last September.
That’s a difference of approximately $56,000, or 9%.
It’s worth keeping in mind that average sale price isn’t the same thing as the change in value of a typical Peterborough home. The average can be affected by the types of properties that sell during a particular month.
Still, a 9% year-over-year decline is significant enough to indicate that pricing conditions have changed.
For homeowners who haven’t been following the market closely, this is an important reminder that what a property might have commanded during a stronger market may not reflect today’s conditions.
Inventory has edged higher
There were 368 active listings in September 2026, compared with 364 in September 2025.
That’s only a four-listing increase, or roughly 1%, so inventory hasn’t changed dramatically year over year.
What’s different is what is happening with that inventory.
With more homes available and fewer sales taking place, buyers have greater choice and less pressure to act immediately. Sellers, meanwhile, are competing for a smaller pool of active buyers.
Based on September’s sales pace, the market had roughly 5.2 months of inventory.
That provides a useful snapshot of the balance between supply and demand and helps explain why homes are taking longer to sell.
Homes are taking longer to sell
The average number of days on market in September 2026 was 43 days.
That’s more than six weeks from listing to sale on average.
Again, this doesn’t mean every property is sitting on the market for 43 days. Well-priced, desirable homes can still attract attention quickly, while properties that are more challenging to price or that appeal to a smaller pool of buyers can take considerably longer.
For sellers, the takeaway is fairly straightforward: pricing matters.
In a slower market, starting too high and reducing the price later can mean missing the initial wave of buyer attention. A well-positioned listing can have a better chance of attracting serious buyers early in the process.
What does this mean for buyers?
For buyers, September’s numbers create a very different environment from the highly competitive conditions seen in some previous years.
There are currently more homes to choose from, sales are moving at a slower pace and buyers aren’t facing the same level of urgency.
That can provide an opportunity to take more time, compare properties and negotiate when the circumstances support it.
It doesn’t mean every home is a bargain, however. The right property at the right price can still attract competition, particularly in desirable neighbourhoods or price ranges.
What does this mean for sellers?
Sellers need to approach today’s market with realistic expectations.
The combination of fewer sales, lower average prices and an average of 43 days on market means buyers have more leverage than they did during a faster-moving market.
That makes accurate pricing, strong presentation and effective marketing particularly important.
Rather than simply looking at what a neighbour’s home sold for last year, sellers should consider recent comparable sales, current competition and how their property fits into today’s market.
The bottom line
September’s numbers show that the Peterborough market has slowed noticeably compared with this time last year.
Sales were down 22%, the average sale price was down 9%, and active listings were relatively unchanged. Homes that did sell took an average of 43 days to do so.
The good news is that a slower market isn’t necessarily a bad market — it simply works differently.
Buyers have more time and choice. Sellers need to be more strategic about pricing and presentation. And for homeowners trying to understand what their property may be worth today, current local market conditions are much more useful than relying on what homes were selling for a year or two ago.
The next few months will be important to watch. If sales activity remains subdued while inventory continues to build, buyers could gain even more negotiating power. If sales begin to pick up, it could signal that buyers are becoming more confident at current price levels.
For now, September’s numbers point to a more balanced and considerably slower Peterborough real estate market than we saw a year ago.
Our team is here to help you understand your options and navigate the market with confidence. 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 2026 & 2025 MLS® Resale Residential. Information is deemed reliable but is not guaranteed.
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