Home prices skyrocket, burst $400K ceiling

Peterborough, ON, Canada / CHEX TV
Home prices skyrocket, burst $400K ceiling

The average home price in Peterborough and the Kawarthas has skyrocketed to more than $424,000.

According to the Peterborough and the Kawarthas Association of Realtors, that’s a 39 percent jump from April of 2016, and a new record.

Perhaps not surprisingly, as prices hit that record high, there were 20 percent fewer home sales compared to a year ago. Inventory is also nearing a record low, with new residential listings dropping nearly six percent from April last year.

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