Kawartha Lakes home sales hit three-year high for June, but still running at below-average levels
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 168 units in June 2019, an increase of 10.5% from June 2018. That said, despite the year-over-year gain, sales activity remains below both the five and 10-year averages for this time of the year.
On a year-to-date basis, home sales totalled 668 units over the first six months of the year. This was an increase of 13% from the same period in 2018.
There were 281 new residential listings in June 2019, up 3.7% (10 listings) on a year-over-year basis but still below all other June levels in the last 15 years.
Overall supply is up a bit from the extreme lows seen in 2017 but is still historically low. Active residential listings numbered 573 units at the end of June, up 4.2% from the end of June 2018. The long-term average for this time of the year is in the range of 950 listings.
Months of inventory numbered 3.4 at the end of June 2019, down from the 3.6 months recorded at the end of June 2018 less than half 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.
