Whether you’re preparing to buy or sell a home, you’re about to make one of life’s biggest decisions. Purchasing property is about finding the perfect place, and it will impact your day-to-day life. Selling will also affect your lifestyle, finances, and future plans.
The good news is, if you’re in Peterborough, you’re in a good position no matter which step you’re taking. That said, having the right knowledge can help you make the most of your situation.
If you’re buying or selling a home in Peterborough, here’s what you should know…
Local Homes & the Market
Whether you’re a buyer or a seller, understanding the real estate market is one of the keys to your success. Let’s take a look at what’s happening right now.
Put simply, Peterborough is a hot seller’s market. Bidding wars are a frequent occurrence, and homes often sell over asking. In some ways, it looks a lot like Toronto.
While the pandemic has led to plenty of unexpected ups and downs, there are some trends that we can observe from the past few years. Namely, annual growth rates for property values have surpassed historical averages in the city. Its popularity has been further spurred on by the number of Torontonians moving to the area in light of Covid.
Wondering what that means in terms of the numbers? Consider September of 2021, when home sales were above the city’s 10-year average for that month. The average sale price was $760,016 (a new record), which was up 21.6% from September of the previous year.
This is all great news for sellers, but there’s a bright side for buyers, too. Peterborough still provides high value for money compared to Toronto—and with demand on the rise, there’s a very good chance that you’ll enjoy a fantastic future return if you purchase now.
If you’re thinking of buying, you’ll find an abundance of beautiful houses to choose from. That said, there’s a growing number of other options, from attractive condos and lofts to new developments that contain townhouses and semi-detached homes.
Preparing to purchase your next home? Check out some of our top resources for buyers!
- Home Buying Conditions: what Buyers Should Know
- 5 Ways to Save For Your Down Payment
- What Buyers should Know About Bank Appraisals
Why Buyers Will Love It
If you’re purchasing a home in Peterborough, you’ll enjoy an incredible quality of life. It’s not just about the homes here. The city itself is a wonderful place to settle down—and buy the perfect piece of real estate.
From its natural beauty (think picturesque waterways and beaches) to its liveliness (the food scene has never been more exciting), there’s something for everyone here. Peterborough has a lot more to boast about than its proximity to cottage country—although that’s pretty great, too!
The city is also home to fantastic festivals and events (Peterborough Folk Festival is a regional favourite), and the arts and cultural scene is impressive. Be sure to check out Artpace (one of the oldest artist-run hubs in the country) and the Peterborough Symphony Orchestra.
Last but not least, Peterborough is home to Trent University, as well as Fleming and Seneca Colleges. There are a lot of students here, though they’re not the only people that call the city home. It’s also known as an incredible place for retirees, and anyone looking for the perfect balance between urban and rural living.
Interested in learning more about buying in Peterborough—and what the city has to offer? Check out some of our recent posts:
- Fun Things to Do in Peterborough This Fall
- 5 Fun Things to Do in the City of Peterborough Right Now
- 5 Reasons to Use a Local Peterborough REALTOR®
How Sellers Can Make the Most of it
In a city that has so much to offer, both buyers and sellers win out. When you’re selling, Peterborough’s many attributes can work in your favour. By highlighting the best of your city, neighbourhood, and amenities in your marketing, you can ensure that your property has maximum appeal for potential buyers.
An experienced local agent will know how to market your home for the best value. That means showcasing your property—and the incredible city that surrounds it.
Is Now the Time to Make Your Move?
Are you thinking about buying or selling a home in Peterborough? If you’re wondering about the perfect time to do so, it’s going to be when you’re ready. Consider your finances, your priorities, and whether you have the time to make a major transition.
One thing is certain: the future of Peterborough real estate looks bright. Whether you’re a buyer or seller, chances are that you’re making one of the best decisions of your life!
Are you thinking of making your move in Peterborough? You can contact us to discuss buying or selling here.
Moving to Peterborough from the GTA? Watch this video to hear about how it went from a real Peterborough relocator!
