Average prices slide lower again from October to March, BUT Months of Inventory finally reverses. Sales activity in October shows more hope for a resilient market than September numbers, but large systemic financial risks still loom. Let’s dive into the stats and the story below! All statistics presented are for the City of Peterborough, and are not indicative of County Activity unless otherwise stated.  Connect with me with the links below: My Website YouTube Twitter Instagram Facebook Or email me at mitch.cleary@century21.ca ..read more

Price Declines Stabilize, Short Term Future Uncertain Amid Interest Rate Hikes, Despite Record High Immigration and Continually Tight Supply.  Story At A Glance:  Slowest September for sales since 2012 with sales down 30% year over year. Showing activity in September lowest of the year. Buyer sentiment does not seem as negative as the industry experts' commentary. Inventory is basically flat month over month at 2.25 months of inventory despite weak sales, indicating ongoing scarcity and or sellers holding back inventory. Central Bank Interest rate commentary increasingly slanted t ..read more

Story at a glance: - Average Sales Prices Continue to trend downward. - August saw the first decrease in overall inventory month over month this year. - August saw the first increase in total sales volume month over month since peak activity this March - Buyer confidence remains low even though housing scarcity is still apparent in rising rents. - The BOC’s next moves are uncertain - The multi-varied equation of buyer demand for our peterborough region continues to shift based on several factors discussed in this article.  - We are yet to see a bottom in the market, and opinions about ho ..read more

In this weeks interview, I got to sit down with Stephen Wright, who is one of the two announced mayoral candidates for Peterborough. We chat about his involvement in politics, his current run for Mayor, what's on his priority list for our community if he gets elected, and about housing in Peterborough.  A huge thank you to Stephen for taking the time out of his busy schedule to chat with me.  We hope you enjoy today's show, and I look forward to catching up with you in the comments! You can find Stephen Wright's campaign website here: https://sawright.ca  If you want to cons ..read more

In this episode we chat about what happen in the last week of sales in Peterborough Ontario, what they are telling us about what's happening in our real estate market.  We chat quickly about that current state of bidding wars, the mentality that buyers and sellers should have right now, and where things go from here. I hope everyone enjoys the show and I look forward to catching up with everyone next week for our interview with Stephen Wright! BOOK A CONSULT WITH MITCH AND THE KAMAR-CLEARY TEAM: Calendly Link: https://calendly.com/mitchcleary Connect with Mitch on social media: https ..read more

A recent study, any many subsequent articles have been stating that Peterborough might be the most overvalued real estate market in Canada. In this episode of the show I break down the local articles that have been circulating, and their logic behind the claims. To describe the episode at a glance, I find most of the claims poorly defined, and the core arguments poorly supported by most of the columnists who have recirculated the original data from the Moody's report. After the breakdown of that topic, we move onto some brief coverage of our bi-weekly inventory, sentiment, and Toronto watch ..read more

Our local Member of Parliament Michell Ferreri took time to sit down with me and discuss all kinds of topics! In this interview we go from Michelles daily routine and life as a politician, onto discussion about housing and homelessness, and much more. Thank you very much to Michelle for taking the time to out of your busy schedule do have this discussion, and thank you for the voice you are providing for our community in Ottawa. I hope everyone enjoys the discussion! If you want to consult with our team about how to navigate this difficult market, reach out to us here: Mitch.Cleary@Century2 ..read more

In this video we cover the bi-weekly topics of: - The 7 day Review: The last weeks real estate activity and statistics in Peterborough. - Macro trends: Interest Rates, Ukraine, Blind Bidding. - Toronto watch: Whats going on in the GTA and Durham and what does it tell us about what to expect for our market. - Sentiment watch: people are saying about what is going to happen next with the market, and how it is affecting buyer and sellers behaviour. - Buyer and Sellers corner: Brief thoughts on how to view this market right now if your considering buying or selling in the coming months. - Parting ..read more

Garnet Northey, President of the Peterborough Kawartha Home Builders Association, sits down to talk all this housing supply. We dive into local politics, provincial legislation, and all things to do with why we don't build more homes.  Garnet is the President of Spotlight Home and Lifestyle, a progressive local design build & renovation company.  Find Garnet here: https://www.spotlighthomeandlifestyle.com/about/spotlight-home-and-lifestyle Find PKHBA here:  https://www.pkhba.com Connect with Mitch: Email: Mitch.cleary@century21.ca https://twitter.com/MitchClearyPTBO ht ..read more

Things are changing very rapidly in our Peterborough County, and Ontario housing market at large. Bidding wars are seeing far less offers, and many are starting to miss their offer dates all together. The market has changed massively from the market we knew just a month ago that still seemed to be at its frenzied peaks.  Continued news of rising rates and the true end of low for long interest rates / cheap money has us wondering if this current softening of the market is more than just the seasonal flush of inventory coming on.  While it is likely that our true scarcity of dwelling ..read more