Kawartha Lakes home sales improve in May, but still running at below-average levels
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 159 units in May 2019. This was an increase of 27.2% from a two-decade low in May 2018. That said, sales activity was still running below both the five and 10-year averages for this time of year.
On a year-to-date basis, home sales totalled 502 units over the first five months of the year, up 14.4% from the same period in 2018.
There were 321 new residential listings in May 2019. This was up 5.6% on a year-over-year basis.
Overall supply is up from the extreme lows of 2017 but is still historically low. Active residential listings numbered 536 units at the end of May, up 4.9% from the end of May 2018. That said, the log-term average for this time of the year is closer to 1,000 listings.
Months of inventory numbered 3.4 at the end of May 2019, down from the 4.1 months recorded at the end of May 2018 and just half the long-run average of 6.8 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.
