Across Canada, early 2025 has brought an unexpected twist in the real estate market. National home sales dropped nearly 10% in a single month. In Toronto, the pullback was even sharper — close to 30%.
But in Peterborough, the story is different.
We’re seeing steady prices, strong buyer activity, and rising inventory. And yet, despite the fundamentals improving, some buyers are still hesitating.
Let’s take a closer look at what’s really happening in our market right now.
📊 City of Peterborough — Sales Surge While Prices Stay Stable
In March, the City of Peterborough saw a significant jump in activity:
Average Sale Price: $646,722
Year-over-Year Change: +0.7%
Homes Sold: 93 (up 52.5% from February)
New Listings: 191 (up 50.4%)
Average Days on Market: 26
Sale-to-List Price Ratio: 99.4%
Buyers came back strong last month, likely responding to better affordability and more choices. Homes are still selling close to asking, and the average days on market dropped to under a month.
That tells us that well-priced, well-marketed homes are getting scooped up fast.
🌳 Peterborough County — A Bit More Price Flexibility
In the County, things are a little more varied. Here’s how March played out:
Average Sale Price: $717,063
Year-over-Year Change: -2.7%
Homes Sold: 65 (up 38.3% from February, down 26% year-over-year)
New Listings: 258 (up 96.9%)
Average Days on Market: 41
Sale-to-List Price Ratio: 96.7%
While activity picked up, pricing softened slightly in some areas — creating opportunities for savvy buyers. Several sub-districts saw significant price drops, including:
Cavan-Monaghan: down 16.2%
North Kawartha: down 47.8%
Smith-Ennismore-Lakefield: down 2.5%
At the same time, some markets saw strong price growth, like Douro-Dummer (+24.8%) and Asphodel-Norwood (+10.2%).
It really depends on location, price point, and property type.
❓ What’s Causing the Caution?
With interest rates now sitting at 2.75%, and more listings on the market than we’ve seen in months, you'd think buyers would be flooding back in.
But what we’re seeing is something else: caution.
Even though the numbers are looking more favourable, buyers are hesitant. Economic uncertainty, job news, and global headlines are making some people pause — even when the window of opportunity is wide open.
This is classic buyer psychology. When uncertainty rises, many step back — even if the fundamentals are improving.
💡 A Window of Opportunity
History has shown us what happens when uncertainty clears: demand returns, often suddenly and with force.
We saw it in early 2020. When the pandemic hit, the market froze. But by the end of that year and into 2021, we saw one of the most active markets on record. The people who acted during that brief quiet period were the ones who benefited most.
Today’s market feels similar.
With less competition, more negotiable sellers, and motivated listings already hitting the market, this could be a moment where the math makes a lot of sense — especially for buyers or investors thinking long-term.
👋 Thinking of Buying or Selling?
If you're curious about what your home is worth, wondering what’s happening in your neighbourhood, or trying to time your next move — I’d be happy to have a conversation.
Whether you're ready now or just starting to plan, getting clear on your options is the best first step.
Let’s talk strategy, not just stats.