Kawartha Lakes Real Estate Market Watch September 2017
Kawartha Lakes home sales down in September
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. were down on a year-over-year basis in September 2017.
Residential sales numbered 106 units in September 2017, falling 27.4% from one of the highest September levels on 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 1,072 units over the first three quarters of the year. This was down 20.5% from the same period in 2016.
New residential listings on the Association’s MLS® System totalled 156 units in September 2017, rising 21.9% from the 2016 record for the period.
Overall supply is still running near record lows but has started to pick up in recent months. There were just 296 active residential listings on the Association’s MLS® System at the end of September 2017, up 26.5% from September 2016 but way below the same time in all other years.
There were just 2.8 months of inventory at the end of September 2017, up from 1.6 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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