Peterborough and The Kawarthas
If you are a homeowner in Peterborough, or an individual who wants to own a house or home in this region, you are at the right place. Peterborough and the Kawarthas Association of REGION Inc. are here to help you with their real estate services. The agency has 600+ real estate professionals to give their aid to you as the client. In November 2020, the association presented the following report.
Home Sales
In November 2020 Peterborough and the Kawarthas Association of REALTORS® (PKAR) sold homes totaling 181 units through the MLS®. This figure is a 12.4% increase from that recorded in November 2019. This was a new record set by residential in more than two decades. Furthermore, on a year-to-year basis, the number of home sales was 2,299 units over the first 11 months, a 6% increase from that experienced in 2019 from the same period. According to Chiarina Payne, the President of PKAR, the home sales reported in November 2020 are the best levels reached in November since the record set in 1998. Additionally, the dollar value of home sales for November 2020 was $103.9 million, a 39.3% increase from November 2019. This figure set a new record for the month.
Residential Activity
PKAR had residential activity in their market region rising in the third quarter of 2020 compared to the previous year in the same period. The residential sales were 897 units in the third quarter of 2020, a 23.6% increase from the third quarter in 2019. Nonetheless, in the third quarter of 2020, single-detached home sales increased by 11.6% on a year-over-year basis.
Residential Listings
PKAR reported new residential listings in November 2020. They totaled 150, a 14.8% decrease from the figure reached in 2019 at the end of November. Additionally, at the end of November, active residential listings were 149 units, a huge decrease of 64.4% from the previous year at such a time. Concerning the low listings, Chiarina says the new listings have failed to increase as the sales. Therefore, this is decreasing the supply hence creating difficult market conditions.
The Home Price Index
November 2020 presented an overall MLS® HPI for composite/single-family at a benchmark price of $492,500. This is a 17.5% increase from November the previous year. The MLS® HPI records the price trends more accurately.
Months Of Inventory
The number of months of inventory depicts the number of months it takes to sell the available inventories at the current rate of sales activity. At the end of November 2020, the months of inventory were 0.8. This was a reduction from the 2.6months which were recorded in 2019. Furthermore, the figure is below the long-run average of 3.3 months for November.
Conclusion
The Peterborough and the Kawarthas Association of REALTORS® Inc. is a real estate agent ready to link home and house buyers and sellers. If you want to sell your Peterborough home, you can do so through PKAR. Also, those who want to sell their houses in Peterborough can take the opportunity. Considering the above report on home sales done in November can help you make the decision.