Wondering what it takes to make a move from the city during Covid-19?
There is no surprise Peterborough and the Kawarthas has seen a large influx of buyers coming out of the GTA. This has been the case since 2017, but nothing has driven the demand as hard as the Corona virus pandemic. Our homes are more affordable, our lot sizes are larger, and the recent 407 extension makes the drive back to the GTA that much easier and faster. The demand is growing – the supply is not.
Our team has seen an increased demand amid Covid-19 from GTA buyers where people can work from home, semi-retire, retire or commute in order to experience life in a smaller city for their family. Our market here has seen fewer listings on the market during Covid-19 as Provincial rules stated only transact if necessary, but once we hit June 2020, it became the wild wild west. Multiple offers, and increasing prices, landing on an average of $548,000 for the month of May. We are starting to see a few more listings hit the market in June, and why not? Our stores are opening, our confirmed cases are low, and sellers are benefiting from rising prices.
Interested? Here is a Q & A of Covid Buying (in our market):
How do you go about seeing property in Peterborough and the Kawarthas?
Call us today to inquire if we have active area listings in your price range. Homes are moving pretty quick so even Realtor.ca can’t quite keep up with the pace. We’ll show you what type of homes are currently available in your budget. Consider that starter homes are $450,000, good sized family homes are $550,000+, large executive homes are $700,000+. A million gets a uniquely built home on a large lot with higher end finishes or acreage. You can still buy a small home or a fixer for $400,000 or less.
I hear the market is trending down (in Toronto). I’m looking to get a Covid-Deal in Peterborough and the Kawarthas. Are there HOT deals in this market? I assume I can offer less than asking?
Nope. We are not Toronto. Our home sales are averaging 101% of asking price. Do not seek out our market if you are looking to offer well below asking. Our sellers are not desperate. Our prices are rising. Listings are in short supply and they will find a buyer willing to pay market value without you. It’s still easy to buy here- but make sure your expectations match what’s actually happening here, not what you wish it was.
Is the market so hot that I’ll be beat out? I can’t be there looking at houses every day.
Our team is willing to pre-screen listings for you, book showings and video chat with you, and work with your schedule as long as you’re practical. You will still need to see listings in their first week on the market to be successful, and it’s not a huge bidding war situation. There may be multiple offers, but the average selling prices are still close to asking.
I don’t know that area well enough to know what areas are good or bad. What waterfronts are quality or not. It seems difficult to buy out there.
Our team knows the city and the waterfronts well. We are here to help. Our local knowledge is exactly what you need to buy smart. We are very upfront, and we want you to be thrilled with your purchase, so we will frankly tell you what areas are good investments and which are not. We’ll help you set up everything you need to transition including schools, utilities, insurance and more.
How can I prepare myself for showings in this market?
PPE is required (masks, gloves) and socks to wear in the homes. Do not bring children, pets or relatives. Do not touch anything in the home (Let the Agent open doors and turn on lights). Medical disclosure forms are required before showings are booked. Also note, you can’t use bathrooms in the homes and public rest rooms are still few and far between, so be prepared especially if it’s a long drive for you.
If you’re thinking of making the move – check out what our area has to offer. Covid won’t last forever, and under normal circumstances our communities have so much to offer. We made the move in 2002 and have never looked back. Life here is relaxing, beautiful and full of nature.
Call Jessica Hill for questions regarding residential properties in Peterborough County at 705-741-9193 Call Jeff Park for Kawartha Lakes Waterfronts at 705-868-4582 or email parkhillteam@gmail.com