Kawartha Lakes Real Estate Market Watch Issue 17-05
Kawartha Lakes home sales still strong in May, but down slightly from one year earlier.
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were down on a year-over-year basis in May 2017.
Residential sales numbered 166 units in May 2017, down 3.5% from May 2016 but above the 10-year average for the month.
On a year-to-date basis, home sales totaled 604 units over the first five months of the year. This was down just 1.8% from the same period in 2016. Sales in the first five months of the year have only topped 600 three times in history.
New residential listings on the Association’s MLS® System totalled 291 units in May 2017, rising 12.8% on a year-over-year basis.
Overall supply is currently running near record lows. There were just 280 active residential listings on the Association’s MLS® System at the end of May 2017, dropping 36.4% from May 2016.
There were just 1.7 months of inventory at the end of May 2017, down from 2.6 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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