2010 Year in Review
The month of October brought 410 new listings, compared to 431 new listing in October 2009. At the close of October 2010 there were 1929 active MLS® listings, compared to 1786 in October 2009. The number of October MLS® sales show a decrease of only 13 sales compared to October of last year. 246 sales were reported in October of 2009 compared with the 233 reported this October.
With the many legislative changes affecting land use and development throughout the province and items such as wind turbines or solar farms starting to infiltrate our area, it is more important than ever to use the services of a LOCAL REALTOR® when buying or selling a property. There is still a significant amount of confusion surrounding the HST and it’s affect on the purchase of a property. Recently a survey completed by IPSOS-REID showed 56% of the people polled believed that HST applied to the purchase price of a resale property in Ontario. THIS IS NOT THE CASE. In almost all circumstances a typical resale residential home is NOT subject to HST on the purchase price of the home.
The Peterborough area is experiencing another strong fall real estate market with an excellent balance of properties available for sale. Almost record low mortgage rates are assisting Buyers and making home ownership more affordable.
Sales Activity:
The sales, month over month, over 2009 at this time, show the cottage/recreational market with a decrease of 16 properties, where the other segments of the market total a Sales increase of 3 properties.
Source: Peterborough and Kawarthas Association of REALTORS® Inc., represents approximately 463 REALTORS® in Peterborough County.
I am currently looking for homes to sell, if you, or anyone you know, is looking to buy or sell, that could use my help, please let me know. The referral of friends and family, is the highest compliment anyone can give.
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