Kawartha Lakes home sales post quiet March; supply remains historically low
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 96 units in March 2018. This was down 38.5% from a near-record month of March in 2017.
On a year-to-date basis, home sales totalled 205 units over the first three months of the year. This was down 38.1% from the same period in 2017.
There were 211 new residential listings in March 2018. This was down 9.1% on a year-over-year basis, and marked the lowest level for the month since the late 1980s.
Overall supply is still running near record lows but is up from the extreme lows seen in 2017. Active residential listings numbered 304 units at the end of March. This was an increase of 57.5% from the end of March 2017, but remained way below all other years. The long-term average for this time of the year is about 800 listings.
Months of inventory numbered 3.2 at the end of March 2018, up from the 1.2 months recorded at the end of March 2017 but still less than half the long-run average of 7.7 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.
KAWARTHA LAKES REAL ESTATE ASSOCIATION