Kawartha Lakes Real Estate Association
Kawartha Lakes home sales continue rebound – miss tying November record by one sale
Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. posted a significant year-over-year increase in November 2017.
Residential sales numbered 96 units in November 2017, jumping 50% from November 2016. This was the highest November in 16 years and just one sale shy of the all-time November record first set in 1999 and again in 2001.
On a year-to-date basis, home sales totaled 1,275 units over the first 11 months of the year. This was still down 15.9% from the 2016 record for the period.
New residential listings on the Association’s MLS® System totalled 84 units in November 2017, rising 12% from a year earlier. This was still below where it stood in November in all other past years.
Overall supply is still running near record lows but is up over last year’s extreme lows. There were just 194 active residential listings on the Association’s MLS® System at the end of November 2017, up 41.6% from November 2016 but still well below the same time in all other years.
There were just two months of inventory at the end of November 2017, little changed from 2.1 months reported at the same time in 2016 and 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.
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.