Here is our numbers for the month of October:
Total number of new listings in October was up 4% year to date
Total number of listings in October was down 3% year to date
Total number of Unit sales in October up 16% year to date
Total number of Unit sales for the year to date is 1%
Total number of dollars sold for the year to date 4%
Total number of current listing as of today 1846.
Looking at our local numbers it seems we are steadily moving forward. Not by leaps and bounds by any means but slowly forward. That is great news. (so the media will never report it with bold letters like they love to when bad news is to be reported).
I hear the word bubble bursting, market crash things like that all the time for the real estate market. That may be the case in Toronto but not here. It will not happen here because we never had a bubble. Very few listings had bidding wars on them in Peterborough. Just a steady flow of sales.
Here is a statement from the Canadian Real Estate Association:
“Sales data in October held steady at the national level, but we are seeing some diverging trends among local housing markets,” said CREA President Wayne Moen. “Markets in Alberta and Saskatchewan are gaining strength, while some of Canada’s traditionally most active markets have lost steam. As always, all real estate is local, so buyers and sellers should talk to their REALTOR® to understand how the housing market is shaping up where they live or might like to live.”
“Little has changed since national activity geared down in the wake of mortgage rules that came into force in July,” said Gregory Klump, CREA’s Chief Economist. “Opinions differ about how sharply sales have slowed depending on the local housing market”