Peterborough and area home sales remain solid in November

“Home sales activity in the region remained close to but still above historical averages in November 2014, with the year-over-year decline mostly reflecting a jump in sales at this time last year,” said Ken Barrick, President of the Peterborough and the Kawarthas Association of REALTORS® Inc. “The average price of all homes sold this year is just over $280,000. That’s up 3.3 per cent from the first 11 months of 2013.”

The average price for all homes sold through the Association’s MLS® System in November 2014 was $256,311, down 4.2 per cent from November 2013. The less volatile year-to-date average price was $280,369, up 3.3 per cent from 2013.

New residential listings on the Association’s MLS® System numbered 242 units in November 2014. This was a decrease of 14.8 per cent from a year earlier.

There were 1,019 active residential listings on the Association’s MLS® System at the end of November, up 8.3 per cent from November 2013.

Months of inventory numbered 5.6 at the end of November 2014. This was up from 4.9 months at the end of November 2013 but stood below the long-term average for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The value of all home sales was $46.9 million in November 2014, down 9.7 per cent from a year earlier. The total value of all property sales was $52.3 million in November, down 15.3 per cent from November 2013.

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