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Essential Home Maintenance to Do After a Snowstorm
Winter storms can leave a mess in their wake, and while fresh snowfall can look beautiful, it can also pose risks to your home. Once the snowstorm has passed, it’s important to assess your property and take care of key maintenance tasks—especially outdoors—to prevent damage and ensure safety. Here’s what you should do after a snowstorm:
1. Check Your Roof for Ice Dams and Heavy Snow
A heavy snowfall can put a significant strain on your roof. Ice dams—formed when melting snow refreezes along the eaves—can cause water to back up under your shingles, leading to leaks and damage. Use a roof rake to clear excess snow, especially near the edges, and ensure your attic is well-ventilated to reduce the risk of ice dams.
2. Clear Walkways, Driveways, and Steps
Shoveling snow as soon as possible helps prevent ice from forming, making walkways safer. Use sand or ice melt on slippery surfaces, but choose products that are safe for concrete and landscaping. If you use a snowblower, be mindful of where you direct the snow to avoid blocking drains or creating hazards.
3. Inspect and Clear Gutters and Downspouts
Heavy snow and ice can clog gutters, leading to potential water damage when everything starts to melt. If safe to do so, remove ice buildup and ensure that downspouts are directing water away from your home’s foundation.
4. Check for Tree Branch Damage
Snow and ice accumulation can weigh down branches, causing them to snap and potentially damage your home, fence, or power lines. Carefully remove any hanging or broken branches and consider trimming overhanging limbs before the next storm.
5. Look for Exterior Damage
Strong winds and heavy snowfall can take a toll on your home’s siding, windows, and doors. Inspect for any cracks, leaks, or drafts that might have developed, and make necessary repairs to keep your home insulated and protected.
6. Ensure Outdoor Vents Are Clear
Blocked furnace or dryer vents can lead to dangerous carbon monoxide buildup inside your home. After a storm, check that all vents are clear of snow and ice to keep your appliances functioning safely.
7. Check Fences and Outdoor Structures
Wooden fences, sheds, and decks can be vulnerable to snow and ice damage. Look for any warping, sagging, or loose boards, and make repairs as needed to prevent further deterioration.
8. Assess Your Driveway and Sidewalks for Cracks
Freeze-thaw cycles can cause cracks in concrete and asphalt to expand. If you notice any new damage, consider sealing cracks in the spring to prevent further wear and tear.
9. Monitor Your Foundation and Basement
As snow begins to melt, water can pool around your home’s foundation. Make sure your sump pump is functioning properly and that water is draining away from your home to prevent leaks or flooding.
10. Prepare for the Next Storm
Once you’ve addressed immediate concerns, restock essentials like salt, sand, and fuel for your snowblower. Having everything ready will make it easier to handle the next storm that comes your way.
By taking these proactive steps after a snowstorm, you can protect your home, prevent costly repairs, and keep your outdoor areas safe. Stay ahead of winter’s challenges with regular maintenance, and your home will remain in great shape all season long!
Top Family Day Activities in Peterborough for 2025: Fun for All Ages!
Family Day is just around the corner on Monday, February 17, 2025, and Peterborough, Ontario, is brimming with activities to help you and your loved ones make the most of this special day. Here’s a curated list of events and activities to enjoy:
Snofest 2025 (February 14-17):
Peterborough’s annual winter festival, Snofest, offers a variety of family-friendly activities throughout the Family Day weekend. Highlights include public skating, swimming, and a pancake breakfast. For a detailed schedule, visit the Snofest Activity Guide.
Family Day Free Skate:
Enjoy a free public skate at the new Miskin Law Community Complex.
- Time: 12:00 p.m. to 1:50 p.m.
- Location: Miskin Law Community Complex, 271 Lansdowne St.
Peterborough Petes Hockey Game:
Cheer on the Peterborough Petes as they face the Kitchener Rangers in their annual Family Day game.
- Time: 2:05 p.m.
- Location: Peterborough Memorial Centre, 151 Lansdowne St. W.
- Tickets: Available for purchase online at memorialcentre.ca or by calling the Grant Thornton Box Office at 705-743-3561.
Quaker Foods City Square Outdoor Rink:
Lace up your skates and enjoy the outdoor rink, weather permitting.
- Time: 10:00 a.m. to 7:00 p.m.
- Location: 215 Charlotte St.
Peterborough Sport and Wellness Centre:
The centre will be open with various activities, including Snofest Drop-in Sports featuring pickleball, badminton, and basketball.
- Time: 6:00 a.m. to 2:00 p.m.
- Location: 775 Brealey Dr.
YMCA Family Day Carnival:
Join the fun with activities for all ages, including bouncy castles, face painting, family swim, crafts, carnival games, and an open Treehouse.
- Time: 10:00 a.m. to 2:00 p.m.
- Location: 123 Aylmer St. S.
- Admission: $10 per family for members, and $20 per family for non-members. All proceeds support the Strong Kids foundation.
Peterborough Museum and Archives:
Explore local history and current exhibitions.
- Time: 12:00 p.m. to 5:00 p.m.
- Location: 300 Hunter St. E.
Additional Information:
- Public Transit: Peterborough Transit will operate on a Sunday/Holiday service schedule on Family Day. For details, visit peterborough.ca/transit.
- Waste Collection: There will be no changes to curbside Green Bin and garbage collection on Family Day.
For a comprehensive list of events and any updates, check out the Peterborough Tourism Events Calendar.
Bundle up and enjoy the festivities Peterborough has to offer this Family Day!
Best Restaurants in Peterborough, Ontario for a Romantic Valentine’s Day
Valentine’s Day is just around the corner, and Peterborough has some fantastic restaurants to make your date night extra special. Whether you’re looking for an elegant steakhouse, authentic Italian cuisine, or a unique dining experience, here are some top spots to consider this weekend.
1. The Keg Steakhouse + Bar – Peterborough
For a classic and elegant dining experience, The Keg is a top choice. Their high-quality steaks, fresh seafood, and cozy atmosphere make it a perfect spot for a romantic evening. Pair your meal with a glass of wine or a handcrafted cocktail to complete the experience. Given its popularity, reservations are highly recommended. (thekeg.com)
2. One Fine Food
If you’re in the mood for authentic Italian cuisine, One Fine Food offers a warm and intimate setting. Their menu features house-made pastas, wood-fired pizzas, and an excellent wine selection. Whether you’re sharing a charcuterie board or indulging in their decadent desserts, One Fine Food is an excellent choice for a cozy and romantic evening. (onefinefood.com)
3. The Venue – Valentine’s Dinner & Comedy Show
For couples looking to mix romance with entertainment, The Venue is hosting a special Valentine’s Dinner, Comedy Show & Dance on February 14th. The evening includes a three-course dinner, performances by award-winning comedians, and a dance party to end the night. Tickets are $130 per couple, and doors open at 6 PM. Be sure to book in advance! (venueptbo.ca)
4. Agave by Imperial
For a vibrant and unique dining experience, Agave by Imperial offers modern Mexican cuisine with a focus on fresh, high-quality ingredients. Their menu features elevated tacos, ceviche, and a great selection of tequila and mezcal-based cocktails. The lively yet intimate ambiance makes it a great choice for couples looking for something different this Valentine’s Day. (agavebyimperial.com)
5. Madoi Sushi
If you and your partner love sushi, Madoi Sushi is a must-visit. This hidden gem in Peterborough serves beautifully plated sushi and sashimi, along with delicious Japanese appetizers and entrées. Their fresh ingredients and artistic presentation make for a dining experience that’s as visually appealing as it is delicious. A sushi dinner for two is a great way to celebrate love and share something special. (madoisushi.ca)
6. Bar Vita
Located in downtown Peterborough, Bar Vita is known for its stylish atmosphere, creative cocktails, and delicious Italian-inspired menu. With its cozy lighting and modern décor, it’s a great place for a romantic night out. Try their house-made pasta, fresh seafood, or gourmet small plates, paired with a glass of wine or a handcrafted cocktail. (barvita.ca)
7. Love You Mean It
For a laid-back but charming Valentine’s date, Love You Mean It is an excellent option. This trendy café and wine bar offers a curated selection of wines, artisanal cheeses, and small plates that are perfect for sharing. If you’re looking for a cozy and intimate setting with a relaxed vibe, this spot is ideal for unwinding and enjoying each other’s company over a glass of wine. (lymi.ca)
8. Capra Toro
Capra Toro is a great choice for couples craving Italian cuisine with a fun and lively twist. Their menu features a mix of traditional and modern Italian dishes, including fresh pasta, gourmet pizzas, and rich, flavourful sauces. The warm ambiance and friendly service make it a fantastic spot for a memorable Valentine’s dinner. (capratoro.ca)
Keep the Night Going with Drinks
If you’re not ready for the night to end after dinner, Peterborough has some fantastic spots for a nightcap. Bijou Bar is a stylish cocktail lounge with an intimate vibe, offering expertly crafted drinks that are perfect for a romantic toast. For couples who love live music and a fun atmosphere, Jethro’s Bar + Stage is a great choice, featuring live performances and a fantastic drink selection. Whether you want a quiet, cozy setting or a lively music scene, these spots provide the perfect way to extend your Valentine’s celebration.
Make Your Reservations Early!
Valentine’s Day is one of the busiest nights of the year for restaurants, so be sure to make reservations as soon as possible. Whether you’re celebrating with a fancy steak dinner, a sushi feast, or a relaxed wine and cheese night, Peterborough has plenty of great options to make your evening special.
Real Estate Market Analysis for January 2025
As we step into 2025, it’s time to take a closer look at how the Peterborough real estate market performed in January compared to the same time last year. The numbers reveal some interesting trends that both buyers and sellers should be aware of.
Home Sales Hold Steady, but Prices See a Decline
In January 2025, the average number of sales in Peterborough remained unchanged from last year, with 61 homes sold. However, the average sale price dropped to $564,618, representing a 2.4% decrease from January 2024’s average price of $578,312. This suggests that while demand has not significantly declined, home values have seen some downward pressure. The dip in prices could be attributed to factors such as increased inventory, shifts in buyer demand, and broader economic conditions impacting affordability.
More Listings, More Choices for Buyers
One of the biggest changes in the market is the number of active listings. In January 2025, there were 153 active listings, a significant increase from the 90 active listings in January 2024. This represents a 70% increase in inventory, giving buyers more options and reducing competition. More available homes mean that buyers can take their time making purchasing decisions, potentially leading to longer negotiation periods and more favourable terms for them. Sellers, on the other hand, may need to adjust expectations and consider pricing their homes more competitively to attract serious buyers.
Homes Taking Longer to Sell
Another key indicator of market conditions is the average number of days a home stays on the market. In January 2025, homes in Peterborough took an average of 46 days to sell. This increase suggests a shift toward a more balanced market, where buyers have the upper hand in negotiations. Sellers should focus on ensuring their homes are in top condition, well-presented, and marketed effectively to stand out from the competition.
What Does This Mean for Buyers and Sellers?
- For buyers: The increased inventory and slight price dip present a great opportunity to enter the market with more negotiating power. More choices mean buyers can be selective and take the time to find the right home without the pressure of bidding wars that were common in previous years.
- For sellers: With homes staying on the market longer, pricing competitively and ensuring strong marketing strategies are crucial to securing a sale. Staging, professional photography, and strategic pricing will be key factors in attracting buyers in a more competitive landscape.
Looking Ahead
While the start of 2025 shows a softening in home prices and longer selling times, the stability in the number of sales suggests that buyer interest remains steady. As we move through the year, factors such as interest rate changes, economic conditions, and seasonal market fluctuations will continue to shape real estate activity in Peterborough.
If you’re considering buying or selling a home in Peterborough, now is the time to stay informed and work with a knowledgeable real estate professional who can guide you through the changing market. Staying up to date with market trends and adjusting your approach accordingly will be key to making the most of current conditions. 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.
*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:
Home Buyers Guide: What to Look for in Winter
Winter might not seem like the ideal season to go house hunting, but it actually offers a unique advantage—cold weather can reveal issues that might be hidden in the warmer months. If you’re buying a home in winter, here are some key things to look for to ensure you’re making a smart investment.
1. Heating and Insulation
A well-insulated home is crucial for energy efficiency and comfort. Check for drafts around windows and doors, and ask about the home’s heating system. A furnace that struggles to keep the house warm in winter could mean high energy costs down the road.
2. Roof Condition
Winter weather can be tough on a roof, so it’s essential to check for any signs of damage. Ice dams, missing shingles, and uneven snow accumulation could indicate poor insulation or structural issues. If the roof is covered in snow, ask for documentation on its age and condition.
3. Windows and Doors
Older or inefficient windows can lead to heat loss and higher utility bills. Look for condensation between window panes, which could be a sign of seal failure. Open and close doors and windows to ensure they fit properly and don’t let in cold air.
4. Plumbing and Water Damage
Frozen or burst pipes are common issues in winter. Run taps to check water pressure and ask about any past plumbing problems. Look for signs of water damage on ceilings and walls, which could indicate leaks or poor insulation.
5. Basement and Foundation
Winter is a great time to inspect a home’s basement. If there’s moisture or a musty smell, it could mean inadequate drainage or foundation cracks. Snow and ice buildup around the foundation can also lead to long-term damage, so check for proper grading and drainage.
6. Driveway and Walkways
Icy, uneven, or poorly maintained driveways can be dangerous and expensive to repair. If possible, visit the home after a snowfall to see how easily the driveway and walkways can be cleared.
7. Neighbourhood and Accessibility
Winter conditions can reveal how well the neighbourhood is maintained. Are the roads and sidewalks plowed? Is the home easily accessible during heavy snowfall? These factors can impact your daily life and should be considered.
8. Gutters and Drainage
Ice buildup in gutters can lead to water damage. Check if gutters are clear and properly directing water away from the home. Poor drainage can lead to issues in the spring when snow begins to melt.
9. Exterior and Landscaping
While landscaping may not be a priority in winter, you should still assess the yard’s layout. Large trees close to the home could pose a risk in storms, and poorly graded yards can cause flooding issues in the spring.
10. Home Inspection
A thorough home inspection is even more critical in winter. Some areas might be harder to check due to snow, so be sure to hire an inspector who has experience assessing homes in winter conditions.
Buying a home in winter comes with its own set of challenges, but it can also give you a clearer picture of how the house handles cold weather. By focusing on heating, insulation, structural integrity, and overall accessibility, you can make a well-informed decision and find a home that’s comfortable year-round.
Looking for expert advice on your home search this winter? Contact our team at Century 21 United Realty at 705-743-4444—we’re here to help you find the perfect home, no matter the season!
Winter Maintenance Tips for Landlords: Protecting Your Rental Property in Cold Weather
Winter in Ontario can be harsh, and as a landlord, it’s your responsibility to ensure your rental property is well-maintained and protected from the elements. Preventative maintenance can help you avoid costly repairs, keep tenants safe and comfortable, and comply with local housing regulations. Here are some essential winter maintenance tips for landlords.
1. Inspect and Service the Heating System
A properly functioning heating system is crucial for tenant comfort and safety. Schedule a professional HVAC inspection to ensure furnaces or boilers are in good working condition. Change filters regularly and remind tenants to keep vents unobstructed to maintain efficiency.
2. Prevent Frozen Pipes
Frozen pipes can lead to expensive repairs and water damage. To prevent freezing:
- Insulate exposed pipes in basements, attics, and exterior walls.
- Advise tenants to keep the heat on, even if they are away.
- Encourage tenants to let faucets drip slightly during extreme cold snaps to prevent freezing.
- Ensure outdoor hoses are disconnected and shut off exterior water valves.
3. Ensure Proper Insulation and Sealing
Drafty windows and doors can drive up heating costs and make the property uncomfortable. Inspect windows, doors, and any gaps where heat can escape. Use weather stripping, caulking, or thermal curtains to improve insulation. If necessary, consider upgrading to energy-efficient windows.
4. Clear Snow and Ice Promptly
Under Ontario’s Residential Tenancies Act, landlords are responsible for ensuring safe access to rental properties. This means keeping driveways, walkways, and entryways clear of snow and ice. If you handle snow removal yourself, establish a routine for clearing high-traffic areas. If tenants are responsible, ensure they have the necessary tools and know their obligations.
5. Check the Roof and Gutters
Heavy snow accumulation and ice dams can damage roofs and gutters. Before winter sets in:
- Inspect the roof for loose shingles or damage.
- Clean out gutters to prevent ice buildup and water damage.
- Install heating cables if necessary to reduce ice dams.
6. Test Smoke and Carbon Monoxide Detectors
With increased heating use and the potential for carbon monoxide leaks, winter is a critical time to test smoke and CO detectors. Replace batteries as needed and ensure all detectors are functioning properly to comply with fire safety regulations.
7. Communicate with Tenants
Keeping open communication with tenants is key to proactively addressing winter maintenance issues. Provide them with a checklist of best practices, such as:
- Reporting any heating issues immediately.
- Keeping sidewalks salted to prevent slips.
- Checking for leaks or signs of mould caused by condensation.
8. Have an Emergency Plan
Unexpected winter emergencies, such as furnace breakdowns or major snowstorms, can happen. Have a plan in place, including:
- A list of reliable contractors for urgent repairs.
- A backup heat source in case of heating failures.
- A method for tenants to reach you in emergencies.
By staying ahead of winter maintenance, landlords can protect their investment, keep tenants happy, and minimize unexpected expenses. A well-maintained property not only prevents costly damage but also enhances tenant satisfaction and retention.
Creating a Cozy Winter Aesthetic for Your Home
As temperatures drop and snow blankets the landscape, there’s nothing more inviting than a warm and cozy home. Transforming your interior into a winter haven doesn’t require a complete overhaul—a few thoughtful touches can make all the difference. Here’s how to create a snug and stylish winter aesthetic for your home.
1. Layer with Textiles
Winter is all about layering, and your home is no exception. Introduce soft, plush textures like chunky knit blankets, faux fur throws, and velvet cushions. Opt for rich, warm tones such as deep reds, forest greens, and golden yellows to evoke a sense of warmth and comfort. Don’t forget to layer area rugs, especially in living spaces and bedrooms, to add extra coziness underfoot.
2. Add Ambient Lighting
Lighting sets the mood in any space, and in winter, ambient lighting is key. Use table lamps, floor lamps, and wall sconces with warm-toned bulbs to create a soft, inviting glow. Candles are another great option for adding warmth and intimacy—consider scented ones with winter-inspired fragrances like cinnamon, pine, or vanilla.
3. Incorporate Natural Elements
Bring the beauty of the season indoors by incorporating natural elements. Pinecones, branches, and evergreen boughs can be arranged in vases or on mantels for a rustic touch. Wood accents, such as a wooden coffee table or decorative bowls, add an earthy warmth that complements a winter theme.
4. Create a Fireplace Focal Point
If you have a fireplace, make it the star of your winter interior. Arrange comfortable seating around it and add a basket of firewood nearby for practicality and charm. If you don’t have a traditional fireplace, consider an electric or faux version to mimic the cozy ambiance.
5. Embrace Seasonal Decor
Swap out your everyday decor for pieces that reflect the winter season. Think snowflake motifs, plaid patterns, and winter-themed art prints. Keep it simple and elegant to avoid overwhelming your space.
6. Warm Up with Scents
Scents can transform the atmosphere of a room. Use essential oil diffusers, candles, or simmer pots to fill your home with comforting aromas like spiced apple, cedarwood, or gingerbread. These scents not only evoke winter but also create a sense of nostalgia and relaxation.
7. Focus on Comfort
Winter is the perfect time to embrace comfort in every corner of your home. Stock up on soft slippers, oversized mugs for hot cocoa, and extra pillows for lounging. Consider adding a reading nook with a cozy chair and blanket to create a personal retreat.
8. Keep It Tidy
A clutter-free space feels more serene and inviting. Store away unnecessary items and use decorative baskets or storage ottomans to keep blankets and other essentials neatly tucked away when not in use.
By incorporating these elements, you can turn your home into a cozy winter retreat that you’ll love spending time in. Whether you’re entertaining guests or enjoying a quiet evening by the fire, your winter interior aesthetic will set the perfect stage for comfort and joy all season long.
Winter Energy-Saving Tips for Your Home
As the temperature drops and snow blankets the ground, winter often brings higher energy bills along with its seasonal charm. Keeping your home warm and cozy doesn’t have to cost a fortune. By making a few adjustments and adopting energy-efficient habits, you can save money and reduce your environmental impact. Here are some practical winter energy-saving tips to keep your home comfortable and your wallet happy.
1. Seal Drafts and Leaks
Cold air seeping through gaps and cracks can significantly impact your home’s heating efficiency. Inspect windows, doors, and other potential entry points for drafts. Use weatherstripping or caulking to seal gaps, and consider adding door sweeps to keep cold air out. For older windows, applying plastic window film can provide an extra layer of insulation.
2. Upgrade Your Insulation
Proper insulation is key to maintaining a warm home in the winter. Check your attic, walls, and basement for sufficient insulation levels. If needed, add more to prevent heat from escaping. Insulating your pipes can also help prevent freezing and improve your home’s energy efficiency.
3. Use a Programmable Thermostat
A programmable or smart thermostat allows you to adjust your home’s temperature based on your schedule. Lowering the temperature by a few degrees while you’re sleeping or away from home can result in significant savings without sacrificing comfort.
4. Let the Sunlight In
Take advantage of free solar heat by opening curtains and blinds on south-facing windows during the day. The sun’s rays can naturally warm your home. Close the curtains at night to provide an extra layer of insulation against the cold.
5. Maintain Your Heating System
Regular maintenance of your heating system ensures it runs efficiently. Replace furnace filters every 1-3 months and schedule an annual professional tune-up. A well-maintained system uses less energy and provides better heating.
6. Use Ceiling Fans Wisely
Ceiling fans aren’t just for summer! Set your fan to rotate clockwise at a low speed during winter. This helps push warm air, which naturally rises, back down into the living space.
7. Lower Your Water Heater Temperature
Many water heaters are set at 60°C (140°F) by default, but lowering it to 49°C (120°F) can save energy and reduce the risk of scalding. Insulating your water heater tank and pipes can also help retain heat.
8. Dress for the Season
Sometimes the simplest solutions are the most effective. Layer up with cozy sweaters and blankets, and use area rugs to add warmth to cold floors. These small adjustments can help you feel comfortable without cranking up the thermostat.
9. Switch to Energy-Efficient Lighting
With shorter daylight hours, lights tend to stay on longer in winter. Replace incandescent bulbs with energy-efficient LEDs, which use less energy and last longer.
10. Unplug Unused Electronics
Even when turned off, electronics and appliances can draw small amounts of power. Unplug chargers, entertainment systems, and other devices when not in use to save energy.
Bonus Tip: Consider Energy-Efficient Upgrades
If it’s within your budget, consider upgrading to energy-efficient windows, doors, and appliances. These investments can lower your energy bills in the long run and may qualify for government rebates or incentives. If you’re a HydroOne customer you may be eligible for an energy savings program or rebate. Check out their residential incentive programs here.
The Ontario government has launched new energy efficiency programs, including the new Home Renovation Savings Program, to help families and businesses save money. The programs are part of a new $10.9 billion, 12-year investment in energy efficiency, the largest in Canadian history. Check out the details here.
By implementing these tips, you can stay warm and save money this winter while reducing your energy consumption. Not only will your efforts benefit your household budget, but they’ll also contribute to a more sustainable future. Stay cozy and energy-conscious this winter!
Why January Is a Great Time to Buy or Sell a Home
The real estate market doesn’t take a winter break, and January can actually be one of the best months to dive in—whether you’re buying or selling. While the frosty weather might make you think twice about moving, there are several compelling reasons to consider making your move at the start of the year.
For Sellers: Stand Out in a Less Crowded Market
- Lower Inventory: Many homeowners wait until spring to list their homes, which means there are fewer properties on the market in January. With less competition, your home is more likely to stand out and attract serious buyers.
- Motivated Buyers: People looking for homes in January are often highly motivated. Whether they’re relocating for work, eager to close before the busy spring market, or taking advantage of year-end financial planning, these buyers mean business.
- Faster Transactions: The quieter market often leads to quicker transactions. With fewer listings, real estate professionals, lenders, and home inspectors tend to have more availability, making the process smoother and faster.
For Buyers: Get Ahead of the Competition
- Less Buyer Competition: Many buyers prefer to wait until spring to house-hunt, which means you’re less likely to face bidding wars or multiple offers in January. This can give you an edge in negotiations.
- Motivated Sellers: Sellers listing in January often have compelling reasons to do so. They may be relocating, downsizing, or looking to sell quickly, which can lead to better deals for buyers.
- Interest Rate Opportunities: Historically, interest rates can fluctuate early in the year. Securing a mortgage in January might help you lock in a favourable rate before potential increases later in the year.
Tips for Success in the January Market
- Prepare Your Home for Winter Showings: If you’re selling, make your home inviting despite the weather. Clear driveways and walkways, turn up the heat, and add cozy touches like warm lighting and soft throws.
- Stay Flexible: Buyers and sellers alike should be ready to act quickly. With fewer properties and motivated participants, opportunities can move fast.
- Work with a Local REALTOR®: Partnering with a real estate professional who knows the local market can make all the difference. They can help you price your home competitively, identify the best deals, and navigate any seasonal challenges.
Start the Year Off Right
January may not be the most traditional time to make a move, but it offers unique advantages for buyers and sellers alike. If you’re considering buying or selling this year, don’t wait for the spring rush—take advantage of the opportunities January brings.
Ready to make your move? Contact us today at 705-743-4444 to get started! We always have an agent on duty to answer your questions.
Peterborough Real Estate Market: 2024 Year in Review
As we close the books on 2024, it’s time to reflect on the key trends and insights that shaped the real estate market in Peterborough and the surrounding areas. From shifting buyer activity to changes in inventory, this year has been dynamic, providing valuable lessons for buyers, sellers, and real estate professionals alike.
Increased Showing Activity
One of the standout trends of 2024 was the uptick in showing activity across the Peterborough region. The number of showings before a sale increased significantly compared to previous years. This trend highlights a more deliberate approach from buyers, who are taking their time to explore options before making offers.
Market Performance: City of Peterborough
The City of Peterborough experienced steady market activity throughout 2024. Key metrics include:
- Listings: The number of new listings remained consistent with previous years, providing buyers with a range of options.
- Sales: While sales volume saw slight fluctuations, overall demand remained strong, with many properties receiving multiple offers.
- Inventory: Inventory levels tightened in the latter half of the year, creating a more competitive environment for buyers.
Market Performance: Peterborough County
In Peterborough County, the market showcased similar patterns:
- Rural Appeal: Buyers continued to show interest in rural properties, particularly those offering larger lots and proximity to natural amenities.
- Inventory and Sales: The balance between inventory and sales remained stable, with a healthy list-to-sale ratio indicating a balanced market.
Rental Market Trends
Rental rates in the Peterborough region also saw changes in 2024. The demand for rental properties increased, driven by a combination of new residents moving to the area and buyers delaying purchases due to interest rates. This shift underscores the importance of the rental market in providing housing solutions.
Looking Ahead to 2025
Market predictions for 2025 suggest that Canada’s real estate landscape will continue to face a mix of challenges and opportunities. Nationally, experts forecast a gradual cooling of interest rate hikes, which could re-energize buyer activity. Additionally, inventory levels are expected to remain tight, keeping competition strong in desirable neighbourhoods. Economic stability and evolving buyer preferences, such as increased interest in energy-efficient homes, will likely shape market trends.
The Peterborough real estate market is poised for continued activity. We anticipate steady demand driven by its affordability compared to larger urban centres. Factors to watch include interest rate trends, inventory levels, and buyer preferences. Staying informed about these developments will be key for anyone navigating the market in the coming year.
For more detailed insights or personalized advice, don’t hesitate to reach out to Century 21 United Realty at 705-743-4444. Our team is here to guide you through every step of your real estate journey.
