Peterborough and Area Real Estate Market Update March 2017-What You need to know.
I am coming to the realization that this market we experienced in 2016 is going to continue into 2017 according to the market indicators that I can study. Sellers are going to enjoy the quick sales with record values and Buyers are going to loose out on homes they are desperately trying to buy. I will go on the record right now that this is not an enjoyable time for any Realtor especially if they are dominantly a Buyers Agent.
In February our listing numbers were down again even from 2015. We had 255 listings compared to 366 in 2016 and 386 in 2015. March will be the real tell tale of what we will see for 2017. Anything less than 575 listings is going to be a disaster for Buyers.
There was 47 expired listing on the market. Keep in mind the numbers shown includes Residential, multifamily, vacant property and commercial. Most of the 47 listings fall in the commercial side.
I have a 2 min video reviewing some of the crazy prices people are paying for houses. It is interesting watch.