Kawartha Lakes Real Estate: Market Watch – January 2018
Kawartha Lakes home sales slow in January; supply remains historically low
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. posted a year-over-year decrease in January 2018.
Residential sales numbered 47 units in January 2018, down 20.3% (12 sales) from January 2017.
New residential listings on the Association’s MLS® System totalled 74 units in January 2018, down 9.8% from a year earlier. This was below where it stood in January in all other past years.
Overall supply is still running near record lows but is up from extreme lows in 2017. There were just 143 active residential listings on the Association’s MLS® System at the end of January 2018, up 37.5% from January 2017 but still well below the same time in all other years.
There were 3 months of inventory at the end of January 2018, up from 1.8 months reported at the same time in 2017. 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.
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.