Home sales in Kawartha Lakes in November 2016

Home sales Kawartha Lakes: Some 1,516 homes traded hands in Kawartha Lakes in the 11 months ending November 2016
Home sales Kawartha Lakes: some 1,516 homes traded hands in Kawartha Lakes in the 11 months ending November 2016

Home Sales Kawartha Lakes

Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. came in well below last year’s November levels.

Residential sales numbered 64 units in November 2016, falling 29.7% from the same month last year.

Some 1,516 homes have traded hands so far this year, up just 0.9% from the first 11 months of 2015. Activity is currently on track to set a new annual record in 2016, although if current trends persist through December it may end up taking a backseat to 2015.

New residential listings on the Association’s MLS® System totaled 75 units in November 2016, down 35.9% on a year-over-year basis. This marks the lowest level for new supply for the month of November in more than 25 years.

Overall supply is currently running at record lows. There were just 137 active residential listings on the Association’s MLS® System at the end of November 2016, dropping 63.2%  from November 2015.

There were 2.1 months of inventory at the end of November 2016, down from 4.1 months reported at the same time last year and well below the long-run average 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.

(Source: Kawartha Lakes Real Estate Association)

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