Peterborough and Lindsay Stories and Headlines: Market watch Peterborough and the Kawarthas, Sears is gone

Market watch Peterborough and the Kawarthas

Well, 2017 is over and reflection of that crazy, unpresidented sales year is looked at. The final inflation of value ended up at 22%. So if your house was worth $300,000 at the beginning of 2017 it will be now worth approximately $366,000. Most people make less than that in a year of work!

Usually Peterborough and the Kawarthas works with a 3 to 5% increase year after year. At one time earlier in 2017 values were up over 27%. Crazy.

So what will 2018 bring? Good question. I feel the market will be more balanced but the value increase will stick from 2017. I do not see values dropping 22% to get back to our "normal" levels of value. 

Check out the numbers below!

December 2017

Unit Sales                      Down   8%
Active Listings              Down   16%
Average sales price      Up 22% YTD

Sears is officially gone
I had not been back to Sears for years. I did not go to see the doors of Sears close for the last time. The last time I was at Sears it was July/August 2016. I was looking for lawn mower blades for my Craftsman Lawnmower I purchased at Sears. They did not have them, they were switching the store to fall fashion so I could buy snowblower parts if I wanted to.
 Their customer service was at one time legendary. Sears decided not to provide that anymore. They also did not see how future retail was going and did not change their business model. Hence the results. Doors closed. Upper management failed badly. Of course upper management will be paid first their millions of dollars for their epic failure. If anything is left maybe employees may get something that is owed to them. Maybe. The store employee should be paid out in full and if anything is left pay upper management. The store employee did nothing wrong.
I do not shed a tear for Sears. Sorry to see people lose their jobs but better things will come to the space and provide more jobs. I can't wait to see how it is developed. 
See some final pictures here or check out Lance Anderson's video

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Written for you by:

Your local Realtor®
Brad Sinclair, Sales Representative
Flat Rate Realty
The HOUSESOLD name for buying and selling real estate in Peterborough and local waterfront! 


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