Kawartha Lakes Real Estate Association Inc. MLS® home sales remain below average in August
The number of homes sold through the MLS® System of the Kawartha Lakes Real Estate Association Inc. totaled 92 units in August 2022. This was down sharply by 41% from August 2021.
Home sales were 29% below the five-year average and 33.6% below the 10-year average for the month of August.
On a year-to-date basis, home sales totaled 758 units over the first eight months of the year. This was a substantial decline of 32.7% from the same period in 2021.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite/single-family benchmark price was $683,600 in August 2022, increasing by 7.9% compared to August 2021.
The dollar value of all home sales in August 2022 was $67.2 million, a sharp decrease of 38.8% from the same month in 2021.
The number of new listings was up by 4.5% (seven listings) from August 2021. There were 161 new residential listings in August 2022.
New listings were 3.1% below the five-year average and 5.5% below the 10-year average for the month of August.
Active residential listings numbered 302 units on the market at the end of August, more than double the levels from a year earlier, jumping 134.1% from the end of August 2021.
Active listings were 1% below the five-year average and 27.8% below the 10-year average for the month of August.
Months of inventory numbered 3.3 at the end of August 2022, up from the 0.8 months recorded at the end of August 2021 and on par with the long-run average of 3.3 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