Kawartha Lakes home sales post noticeable improvement from May to June, although still quiet by historical standards
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 148 units in June 2018. This was down just 5.7% (nine sales) from June 2017, marking a considerable improvement over the double-digit decline in the previous five months. That said, it remains a quiet market by historical standards.
On a year-to-date basis, home sales totalled 593 units over the first six months of the year. This was a decline of 31% from the same period in 2017.
There were 253 new residential listings in June 2018. This was a decrease of 15.1% on a year-over-year basis.
Overall supply is still running near record lows but is up from the extreme lows seen in 2017. Active residential listings numbered 535 units at the end of June. This was an increase of 17.3% from the end of June 2017 but below every other year.
Months of inventory numbered 3.6 at the end of June 2018, up from the 2.9 months recorded at the end of June 2017 but below the long-run average of 7.3 months for this time of year. 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.
BOARD & ASSOCIATION INFORMATION
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.
