Kawartha Lakes home sales, listings remain at subdued levels in July
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 132 units in July 2018. This was down 4.3% (six sales) from July 2017 and was below-average for the month.
On a year-to-date basis, home sales totalled 725 units over the first seven months of the year. This was down 27.3% from the same period in 2017.
There were 225 new residential listings in July 2018, edging up 2.7% (six listings) on a year-over-year basis. That said, new supply remains at below-average levels.
Overall supply is still running near record lows but is up from the extreme lows seen in 2017. Active residential listings numbered 541 units at the end of July. This was an increase of 12.2% from the end of July 2017.
Months of inventory numbered 4.1 at the end of July 2018, up from the 3.5 months recorded at the end of July 2017 but still well below the long-run average of 7.1 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.