Issue No. 3
Peterborough, Ontario
Every year, there’s a moment when the market stops thinking about moving and actually starts moving. In Peterborough, that moment was March. Spring doesn’t always announce itself loudly in Peterborough. Sometimes it shows up in a listing that sells the first weekend, or a conversation that started quietly in January that turns into an offer in March. Either way, this is a month worth paying attention to.
A Look at the Month
March continued the trend of rising inventory and steady buyer activity that we saw beginning to build in February. After a quieter start to the year, we’re now seeing more movement across a wider range of price points.
One of the most notable things we’ve observed this month are two market patterns that are worth understanding, whether you’re thinking about buying, selling, or simply keeping an eye on things.
Open houses have been drawing genuine interest again. Spring buyers tend to be more committed than window shoppers, and that seriousness has been evident in the conversations happening at our showings. Deals are getting done, and we’re seeing buyers who did their preparation earlier in the year now moving confidently.
Two Things We’re Seeing in the Market
If You Bought Between 2020 and 2023
One of the most common conversations we’re having right now is with homeowners who purchased during the peak market years of 2020 through 2023. In many cases, when we sit down and look at what their home is worth today versus what they paid for it, the numbers are uncomfortable. Values have softened enough that some of those homeowners find themselves in a position where selling means accepting less than their original purchase price.
This isn’t a small or isolated issue. We’re hearing it regularly, and we want to be straightforward about it rather than dance around it. If you’re in this situation, or even just wondering whether you might be, the most important thing you can do is get an honest, current picture of where your home actually stands in today’s market. Waiting and hoping values rebound is a strategy, but it’s one that carries its own risks depending on your circumstances.
If you bought in that window and have questions about where you stand, please reach out. We’ll give you a straight answer, with no pressure attached.
“The worst position to be in is making a major financial decision without accurate information. Whatever your situation, knowing the real numbers is always the right first step.”
The Low-List Strategy and Why It’s Backfiring
We’ve also been noticing a pricing pattern on the MLS that’s worth flagging for buyers and sellers alike. Some listings are coming to market at prices that seem surprisingly low, and when you speak to the listing agent, it becomes clear the seller’s actual expectations are significantly higher. The idea is to generate excitement, create competition, and let the market drive the price up.
In the right conditions, that strategy can work. In this market, we’re watching it backfire consistently. Buyers are doing their research. When a home is priced in a way that doesn’t reflect reality, the offers don’t materialize the way the seller hoped and the listing stalls. What follows is usually a cancellation and a re-list at a much higher price, which then raises questions in buyers’ minds about why the home didn’t sell the first time.
The result is a home that has now been on the market twice, carries the stigma of a failed listing, and often ends up selling for less than it would have with a well-considered price from day one.
If you’re thinking about selling and want to understand what a realistic, well-supported price looks like for your home, that’s exactly the kind of conversation we’re here for.
“Pricing a home correctly from the start isn’t conservative. It’s strategic. The first two weeks on market are the most valuable, and wasting them on a pricing experiment is costly.”
Market Insights | Peterborough
Here’s a snapshot of where the Peterborough market stood heading into March, based on recent data from the region. These figures reflect conditions in the City of Peterborough:
Active Listings (229 properties)
Sold in March (59 sales)
The numbers tell a clear story this month. With 229 active listings and only 59 sales, buyers have meaningful choice and sellers need to be competitive. The average sale-to-list ratio of 97.83% means most homes are selling slightly below asking, which reflects a market where pricing precision matters more than ever.
The spread between the average list price ($688K) and the average sold price ($585K) is also worth noting. It reflects what’s sitting versus what’s moving. Well-priced homes in the right condition are still selling efficiently, while overpriced or under-prepared properties are extending the average days on market for the whole pool.
Peterborough continues to offer strong value compared to the broader Ontario market, and with spring inventory building, both buyers and sellers who come in prepared are best positioned to make the most of the current conditions.
Tip of the Month
If you’re planning to sell this spring, the time to get ready is now, not when you see the listing you want go up.
The homes that are selling quickly in March have one thing in common: they were prepared before they hit the market. That means decluttering, taking care of deferred maintenance, having professional photos ready, and knowing your price before the for-sale sign goes in the ground.
A two- to four-week head start is often the difference between a smooth, strategic sale and a reactive one. If you’re thinking about it, let’s talk now.
Community Updates | Peterborough
March in Peterborough carries that particular energy of a city coming back to life. The trails along the Rotary Greenway and Jackson Creek are being walked again in earnest, and the weekends downtown feel a little fuller than they did a month ago.
Local businesses are moving into their spring rhythm, patios are being dusted off, and the Farmers’ Market season is drawing closer. For families, spring sports and activities are ramping up, which means neighbourhoods near parks and recreation facilities are as desirable as ever.
For those considering relocation to Peterborough, March is actually a wonderful time to explore. The city is at its most honest in these shoulder months, active and unhurried, and it reveals the everyday quality of life that draws people here from larger centres.
Our Active Listings
Full details and updates can always be found at jeffandkatie.ca/listings.
Looking Ahead
Spring is arriving on schedule in Peterborough’s real estate market. Inventory is building, buyer confidence is growing, and deals are being made. The market patterns we’ve been observing this month, from peak-era homeowners reassessing their options to the low-list strategy playing out poorly, are all signals that strategy and honest advice matter more right now than ever.
If you’re thinking about making a move this year, April and May tend to be the most active months in our local market. The decisions you make and the conversations you start in March shape whether you’re leading into that season or scrambling to catch up.
As always, whether you’re just starting to think about it or ready to take the next step, we’re here to give you an honest picture of where things stand and what makes sense for your situation.
Thanks for reading, and for being part of our community. See you next month!