Peterborough and the Kawartha's real estate market update as of July 18/2017
Hello friends,
I was reading an article today stating the real estate market has turned into a Buyers market in Ontario. If that is truly the case, Peterborough and the Kawarthas are the exception to the rule. January through April was a complete gong show for multiable offers and crazy prices. This leveled out in May when a flood of listings hit our market. That said Buyers still bought the new inventory up just not in 10 to 12 multiable offer situations. This caught Sellers off guard and Realtors® alike. A large number of properties were holding offers and receiving none on offer date. They would always get an offer or two the next few days but not like it was before.
Now July is going to be the tell tale month for the balance of the year. Obviously, the numbers are not out as the month is not over but watching I am seeing less inventory hit the market and multible offers building steam again. It will be interesting to see.
I was reading an article today stating the real estate market has turned into a Buyers market in Ontario. If that is truly the case, Peterborough and the Kawarthas are the exception to the rule. January through April was a complete gong show for multiable offers and crazy prices. This leveled out in May when a flood of listings hit our market. That said Buyers still bought the new inventory up just not in 10 to 12 multiable offer situations. This caught Sellers off guard and Realtors® alike. A large number of properties were holding offers and receiving none on offer date. They would always get an offer or two the next few days but not like it was before.
Now July is going to be the tell tale month for the balance of the year. Obviously, the numbers are not out as the month is not over but watching I am seeing less inventory hit the market and multible offers building steam again. It will be interesting to see.
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