Kawartha Lakes Real Estate Market Watch Issue 16-07
Kawartha Lakes home sales come off record levels in July
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. came in below year-ago levels in July 2016.
Residential sales numbered 171 units in July 2016, down 9.5 per cent from the record for the month set last year. This was still comfortable above the five and 10-year averages for the month of July.
Some 997 homes have traded hands so far this year, up 4.9 per cent from the first seven months of 2015. This remains ahead of all other years on record.
New residential listings on the Association’s MLS® System totalled 164 units in July 2016, falling 30.8 per cent on a year-over-year basis. This marks the lowest level of new supply for the month of July going back all the way to 1988.
Overall supply is currently running near record lows. There were 407 active residential listings on the Association’s MLS® System at the end of July 2016, dropping 39.7 per cent from July 2015.
There were just 2.4 months of inventory at the end of July 2016, down from 3.6 months reported at the same time last year and less than half 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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