Kawartha Lakes Real Estate Market Watch Issue 16-02
Kawartha Lakes home sales just miss setting March record
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. came in well above year-ago levels in March 2016, posting the best level for the month in 12 years.
Residential sales numbered 132 units in March 2016, surging 29.4 per cent from March 2015. This was just one sale shy of the all-time record for the month set back in 2004.
March’s performance, combined with an equally strong month of February, resulted in the strongest first quarter since 2007.
Year-to-date activity was running 19.4 per cent ahead of the first three months of 2015.
New residential listings on the Association’s MLS® System totalled 237 units in March 2016, up 0.9 per cent on a year-over-year basis.
Overall supply is currently running near record lows. There were 371 active residential listings on the Association’s MLS® System at the end of March 2016, dropping 25.9 per cent from March 2015.
There were 2.8 months of inventory at the end of March 2016, down from 4.9 months reported at the same time last year and below the long-run average for this time of the year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Serving the City of Kawartha Lakes since 1958, the Kawartha Lakes Real Estate Association Inc. supports its REALTOR® members with a local Multiple Listing Service®, ongoing professional education and an effective government relations program. Our REALTOR® members are actively supporting our local charities, offer the highest level of service and have agreed to abide by a strict professional Code of Ethics.
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