Kawartha Lakes home sales improve further in July as buyers take advantage of surge in new listings
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 172 units in July 2019. This was a large 31.3% increase from July 2018. While it was still below historical averages for the month, it was pretty close to a normal July.
On a year-to-date basis, home sales totalled 839 units over the first seven months of the year. This was an increase of 16.2% from the same period in 2018.
There were 313 new residential listings in July 2019, a 36.7% surge on a year-over-year basis.
Overall supply is up from the extreme lows seen in 2017 but is still way below most of history. Active residential listings numbered 600 units at the end of July, up 7.5% from the end of July 2018 but well below the long-run average for this time of the year of close to 950 listings.
Months of inventory numbered just 3.5 at the end of July 2019, down from the 4.3 months recorded at the end of July 2018 and below the long-run average of 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.