Kawartha Lakes Real Estate Market Watch Issue 16-08

Kawartha Lakes home sales back to setting records in August

Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. came in well above year-ago levels in August 2016.

Residential sales numbered 205 units in August 2016, rising 17.1 per cent from the same month last year. This was a new August record and also marked the second highest level of any month on record.

Some 1,202 homes have traded hands so far this year, up 6.8 per cent from the first eight months of 2015. This remains ahead of all other years on record.

New residential listings on the Association’s MLS® System totalled 150 units in August 2016, down 19.8 per cent on a year-over-year basis. This marks the lowest level of new supply for the month of August in more than 25 years.

Overall supply is currently running near record lows. There were just 313 active residential listings on the Association’s MLS® System at the end of August 2016, dropping 48.3 per cent from August 2015.

There were just 1.5 months of inventory at the end of August 2016, down from 3.5 months reported at the same time last year and the lowest level of any month on record. 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.

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Important information

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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