Kawartha Lakes Real Estate Market Watch Issue 17-02
Kawartha Lakes home sales above average in February
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were down slightly on a year-over-year basis in February 2017.
Residential sales numbered 92 units in February 2017, down 3.2% (or just three sales) from the same month in 2016. That said, it was well above the five and 10-year averages for the month.
On a year-to-date basis home sales totaled 151 units over the first two months of the year, up 13.5% from the same period in 2016.
New residential listings on the Association’s MLS® System totalled 102 units in February 2017, down 32.9% on a year-over-year basis. This was the lowest February level on record.
Overall supply is currently running at record lows. There were just 106 active residential listings on the Association’s MLS® System at the end of February 2017, dropping 65% from February 2016.
There were 1.2 months of inventory at the end of February 2017, below the 3.2 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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