Kawartha Lakes Real Estate Association

Kawartha Lakes Real Estate Association Inc. MLS® home sales down in October

The number of homes sold through the MLS® System of the Kawartha Lakes Real Estate Association Inc. totaled 77 units in October 2022. This was a substantial decline of 34.7% from October 2021.

Home sales were 30% below the five-year average and 29.4% below the 10-year average for the month of October.

On a year-to-date basis, home sales totaled 922 units over the first 10 months of the year. This was a big decline of 32.4% 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 $645,900 in October 2022, down by 4.2% compared to October 2021.

The dollar value of all home sales in October 2022 was $48.3 million, down sharply by 43.3% from the same month in 2021.

The number of new listings saw an increase of 14.5% from October 2021. There were 126 new residential listings in October 2022.

New listings were 5.8% below the five-year average and 5.8% below the 10-year average for the month of October.

Active residential listings numbered 267 units on the market at the end of October, more than double the levels from a year earlier, leaping 178.1% from the end of October 2021.

Active listings were 10% above the five-year average and 16.8% below the 10-year average for the month of October.

Months of inventory numbered 3.5 at the end of October 2022, up from the 0.8 months recorded at the end of October 2021 and above the long-run average of 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.


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KAWARTHA LAKES REAL ESTATE ASSOCIATION

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For more information,
please contact:
(705) 324-4515
sschell@kawarthalakes-mls.ca

President
Carole Lacey

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