Kawartha Lakes home sales are up year-over-year in March 2020 – but sales and listings fall sharply towards the end of the month as reported in Market Watch March 2020
Market Watch March 2020 reports Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totalled a whopping 117 units in March 2020. This was a heavy hitting 39.3% increase from the decidedly weak quiet month of March 2019 as reported in our Market Watch March 2019.
On a year-to-date basis, Kawartha Lakes home sales totalled 256 units over the first three months of the year, which is up 20.8% from the same period in 2019.
There were 187 new residential listings in March 2020, a decrease of 13.8% on a year-over-year basis. Much of this increase was recorded in the last 10 days of the month.
Active residential listings numbered just 325 units at the end of March, dropping 21.3% from the end of March 2019.
Months of inventory numbered 2.8 at the end of March 2020, down from the 4.9 months recorded at the end of March 2019 but below the 10-year average of 5.4 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. Low Months of inventory is a strong indicator of the shift from a Buyers market into a fast moving Sellers Market.
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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 development along with an effective government relations program. Our REALTOR® members are actively supporting our local charities. They offer the highest level of service and have agreed to abide by a strict professional Code of Ethics.
