Home sales recorded through the MLS® System of the Kawartha Lakes Real Estate Association Inc. came in well above year-ago levels in February 2016, posting the best level for the month in 12 years.
Residential sales numbered 95 units in February 2016, jumping 66.7 per cent from February 2015. This stands in sharp contrast to the quiet January posted one month earlier, and is back in line with levels posted throughout much of 2015.
Year-to-date activity was running 10.8 per cent ahead of the first two months of 2015.
New residential listings on the Association’s MLS® System totalled 152 units in February 2016, up 4.8 per cent on a year-over-year basis.
Overall supply is currently running near record lows. There were 303 active residential listings on the Association’s MLS® System at the end of February 2016, dropping 27.2 per cent from February 2015.
There were 3.2 months of inventory at the end of February 2016, well below 7.3 months reported at the same time last year and below the long-run average for this time of the 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.