Kawartha Lakes home sales fall back to start 2019 after surprisingly strong end to 2018
Residential home sales recorded through the MLS® system for the Kawartha Lakes Real Estate Association Inc. totaled 85 units in March 2019. This was down 4.5% (four sales) from March 2018 and marked the lowest March sales figure since the late 1990s.
On a year-to-date basis, home sales totalled 213 units over the first three months of the year, still up 7.6% (15 sales) from the same period in 2018 owing mostly to January.
There were 216 new residential listings in March 2019, up 5.4% (11 listings) on a year-over-year basis but still near a record low for the month.
Overall supply is up from the extreme lows seen in 2017 and 2018 but is still below the rest of the historical record going back to the start of the 1990s. Active residential listings numbered just 396 units at the end of March, an increase of 25.3% from the end of March 2018.
Months of inventory numbered 4.7 at the end of March 2019, up from the 3.6 months recorded at the end of March 2018 but still well below the long-run average of 7.6 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.