Home sales recorded through the Ontario Collective MLS® system for the Kawartha Lakes Real Estate Association Inc. posted a year-over-year decrease in February 2018.
Residential sales numbered 51 units in February 2018, down 44.6% (41 sales) from the near-record February in 2017.
On a year-to-date basis home sales totaled 98 units over the first two months of the year. This was a decrease of 35.1% from the same period in 2017.
New residential listings totalled 97 units in February 2018, down 4.9% from a year earlier. This was below where it stood in February in all other past years.
Overall supply is still running near record lows but is up from the extreme lows seen in 2017. There were just 178 active residential listings at the end of February 2018, up 67.9% from February 2017 but still well below the same time in all other years.
There were 3.5 months of inventory at the end of February 2018, up from 1.2 months reported at the same time in 2017 but still 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.