Kawartha Lakes Real Estate - Market Watch Issue 17-01
Kawartha Lakes home sales above average in January
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were up sharply on a year-over-year basis in January 2017.
Residential sales numbered 59 units in January 2017, jumping 55.3% from the same month in 2016. It should be noted, however, that while activity in January 2017 was above average for the month, the large year-over-year increase stemmed mostly from an unusually quiet month of January in 2016.
New residential listings on the Association’s MLS® System totalled 82 units in January 2017, down 18% on a year-over-year basis. This was the lowest January level on record.
Overall supply is currently running at record lows. There were just 104 active residential listings on the Association’s MLS® System at the end of January 2017, dropping 62.9% from January 2016.
There were 1.8 months of inventory at the end of January 2017, well below 7.4 months reported at the same time in 2016 and also well below the long-run average for this time of 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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