Kawartha Lakes Real Estate Market Watch Issue 17-05
Kawartha Lakes home sales drop in June
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were down on a year-over-year basis in June 2017.
Residential sales numbered 125 units in June 2017, falling 40.8% from June 2016, which was the all-time record for sales in the region. 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 729 units over the first half of the year. This was down 11.7% from the same period in 2016.
New residential listings on the Association’s MLS® System totalled 234 units in June 2017, down 8.9% 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 346 active residential listings on the Association’s MLS® System at the end of June 2017, still down 23.8% from June 2016.
There were just 2.8 months of inventory at the end of June 2017, up from 2.2 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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