Kawartha Lakes Real Estate Market Watch Issue 16-09
Kawartha Lakes home sales come off boil in September
Kawartha Lakes Real Estate Market Watch: Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. remained historically strong in September 2016, despite coming in slightly below last year’s record levels.
Residential sales numbered 146 units in September 2016, down 2.7 per cent from the same month last year. This was still the second best September level ever, standing just four sales below the record for the month.
Some 1,348 homes have traded hands so far this year, up 5.7 per cent from the first nine months of 2015. Activity remains on track to set a new annual record in 2016.
New residential listings on the Association’s MLS® System totalled 128 units in September 2016, down 36.9 per cent on a year-over-year basis. This marks the lowest level for new supply for the month of September in more than 25 years.
Overall supply is currently running near record lows. There were just 234 active residential listings on the Association’s MLS® System at the end of September 2016, dropping 58.4 per cent from September 2015.
There were just 1.6 months of inventory at the end of September 2016, down from 3.7 months reported at the same time last year and the second 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.
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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