Kawartha Lakes Real Estate Market Watch Issue 17-02
Kawartha Lakes home sales set new March record
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were up on a year-over-year basis in March 2017.
Residential sales numbered 136 units in March 2017, up 3% (four sales) from the same month in 2016 and the highest March level on record.
On a year-to-date basis, home sales totaled 287 units over the first three months of the year. This was up 8.3% from the same period in 2016, and marked the second best start to any year on record after 2004.
New residential listings on the Association’s MLS® System totalled 188 units in March 2017, down 20.7% on a year-over-year basis. This was the lowest level in 14 years for new supply in the month of March.
Overall supply is currently running at record lows. There were just 146 active residential listings on the Association’s MLS® System at the end of March 2017, dropping 60.6% from March 2016.
There was a record-low 1.1 months of inventory at the end of March 2017, well below the 2.8 months reported at the same time in 2016. 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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