Kawartha Lakes home sales moderate in August following stronger sales in June and July
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 130 units in August 2019. This was down 9.7% (14 sales) from August 2018. Despite being up from a year earlier, marking a moderation from an improving trend earlier in the summer. That improving trend came alongside more new listings, which also fell back in August, so it could still be a supply story.
On a year-to-date basis, home sales totalled 969 units over the first eight months of the year, an increase of 11.9% from the same period in 2018.
There were 220 new residential listings in August 2019, down 3.5% (eight listings) on a year-over-year basis.
Overall supply is up from the extreme lows seen in recent years but is still well below historical averages. Active residential listings numbered 592 units at the end of August, up 9.8% from the end of August 2018. The long-term average for this time of the year is over 900 listings.
Months of inventory numbered 4.6 at the end of August 2019, up from the 3.7 months recorded at the end of August 2018 but below the long-run average of 6.7 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.