Kawartha Lakes Real Estate Market Watch Issue 17-08
Kawartha Lakes home sales remain at more moderate levels in August
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were down on a year-over-year basis in August 2017.
Residential sales numbered 122 units in August 2017, falling 40.5% from the all-time August record in 2016. This trend matches many other Greater Golden Horseshoe markets in the wake of recent changes to Ontario housing policies.
On a year-to-date basis, home sales totaled 966 units over the first eight months of the year. This was down 19.6% from the same period in 2016.
New residential listings on the Association’s MLS® System totalled 140 units in August 2017, down 6.7% on a year-over-year basis.
Overall supply is still running near record lows but has started to pick up in recent months. There were just 319 active residential listings on the Association’s MLS® System at the end of August 2017, edging up 1.9% from August 2016. This was the first year-over-year increase in three years.
There were just 2.6 months of inventory at the end of August 2017, up from 1.5 months reported at the same time in 2016 but still well below the long-run average for this month. 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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