September 2026 Market Review

The City saw more sales and considerably more new listings than in August, while remaining in balanced-market territory. Peterborough County moved further into buyer-market conditions as sales declined and inventory remained elevated. Waterfront activity was relatively steady, with fewer active listings but still enough supply to favour buyers.

As always, one monthly statistic does not tell the whole story. Median prices can move because of the mix of properties that sold, and the balance between sales, new listings, and active inventory often provides better context.

City of Peterborough

In the City of Peterborough, the median selling price for September was $546,500, down 2.4% from August and 8.2% compared to September 2025.

Sales increased to 71, up 12.7% from August, although still 20.2% below the 89 sales recorded last September.
One of the more noticeable changes was the return of new inventory. There were 238 new listings, up 44.2% from August. That was still 12.5% below September 2025, but the increase was enough to push active listings to 378, up 10.5% month-over-month and essentially unchanged from last year.

Months of inventory came in at approximately 5.3 months, keeping the City within balanced-market conditions.
For buyers, September brought considerably more fresh inventory to choose from. The increase in listings, combined with sales remaining below last year's level, means buyers generally have time to compare properties and pay close attention to value.

For sellers, there are still buyers in the market, but there is also more competition. The average sale-to-list ratio remained at 97%, the same as August and September of last year. That reinforces the importance of pricing a property according to the market buyers are seeing today rather than relying on older sales or expectations.

The decline in the median price deserves context as well. A lower monthly median does not mean every home in Peterborough declined 8.2% in value over the past year. Changes in the types, locations, and price ranges of homes sold can materially affect a monthly median.

Peterborough County

Peterborough County continued to show softer market conditions in September.

The median selling price increased to $680,000, up 6.3% from August, but remained 4.9% below September 2025.
Sales declined to 79, down 11.2% from August and 2.5% year-over-year. At the same time, new listings increased to 218, up 21.1% from August and 4.3% compared to last September.

Active listings remained high at 542. That was down slightly from August but 5.2% higher than September 2025.
With approximately 6.9 months of inventory, the County remained in buyer-market territory and moved somewhat further in that direction compared with August.

For buyers, the combination of elevated inventory and fewer sales means there is generally more choice and potentially more negotiating room. That does not mean every seller will accept a substantially lower offer. Well-priced properties can still attract serious interest.

For sellers, competition is an important part of the pricing discussion. Buyers are not only looking at what comparable properties sold for. They are also comparing your property with everything else currently available in the same price range.
The average sale-to-list ratio remained at 96%, unchanged from August and September 2025.

As with any County market statistic, it is also important not to treat the median price as a direct measure of every property's value. Rural homes, subdivisions, acreage properties, waterfront-adjacent homes, and properties with outbuildings or different servicing can behave very differently within the same monthly dataset.

Peterborough & The Kawartha's Waterfront Market

The waterfront market for Peterborough & The Kawarthas was relatively stable in September. The median selling price was $750,000, down just 0.7% from August and 8.0% compared to September 2025. There were 67 sales, essentially unchanged from August's 68 and exactly the same number recorded in September last year. New listings were also steady at 149, unchanged from August and 4.5% below September 2025.

Active waterfront inventory declined to 453, down 8.3% from August, although still 4.9% higher than a year ago.
Months of inventory improved to approximately 6.8 months, down from about 7.3 months in August. That still represents buyer-market conditions, but the decline in active inventory moved supply and demand somewhat closer together.

For waterfront buyers, there continues to be a good selection of properties available. That creates an opportunity to compare carefully rather than focusing solely on the cottage itself.

Lake, frontage, shoreline, exposure, water depth, privacy, road access, servicing, condition, and location can all have a significant effect on waterfront value. Two cottages at similar asking prices can represent very different value once those details are considered.

For sellers, waterfront buyers remain selective. The average sale-to-list ratio held at 95%, while average days on market were 53 days. Properties are selling, but buyers generally have enough choice to take their time and evaluate alternatives.
The year-over-year decline in the waterfront median should also be interpreted cautiously. Waterfront has a particularly wide range of property types and price points, so the mix of properties sold in any individual month can move the median considerably.

What This Means for Buyers and Sellers

September reinforces why it is increasingly important to look at the specific market rather than relying on broad headlines.
In the City of Peterborough, activity improved from August, but a substantial increase in new listings kept the market balanced and gave buyers more choice.

In Peterborough County, supply continues to exceed the pace of sales, creating buyer-market conditions and putting more pressure on sellers to compete effectively on price, condition, and presentation.
In the waterfront market, inventory declined and sales remained steady, but supply is still high enough to give buyers meaningful choice.

For buyers, this is generally a market where patience, comparable sales, and property-specific analysis matter. More negotiating leverage can exist, but it should be based on the actual property and its competitive position rather than simply assuming that every seller is motivated.

For sellers, the market is active, but buyers have alternatives. The strongest strategy starts with understanding how your property compares with the homes buyers can choose from today.

The biggest takeaway from September is that the market continues to function, but it remains selective. City, County, and waterfront properties are behaving differently, and even within those segments the results can vary considerably by neighbourhood, price range, property type, and condition.

Understanding where a specific property fits within that competition is ultimately more useful than any single monthly statistic.