The number of July 2010 MLS® sales show a decrease of 57 sales compared to July '09. 277 sales were reported in July 2010 compared to 334 in July 2009.
There were 551 new listings in July 2010, compared to 579 in July '09. At the close of July 2010 there were 2284 active listings compared to 2177 in July '09.
While many major markets across the country experienced drastic sales decreases the Peterborough area has only had a decrease of 11 sales from June of this year. We have experienced another strong month in the waterfront/recreational market with an increase of 32% over the previous month.
We definitely saw a decrease in residential sales over July of '09, largely due to the implementation of HST on July 1st and consumers adjusting to the new tax. However sales numbers remain on a par with prior years during the summer months. We are experiencing a more balanced market locally this year compared with 2009 when sales volumes were all over the place due to the uncertain economic climate at that time.
We are fortunate to be enjoying a more stable local market this year, both in volume of sales and average sale prices. This makes a more equitable playing field for both buyers and sellers. This in turn provides confidence in the market place and continues to make real estate a solid investment.
