Kawartha Lakes Real Estate Association

Kawartha Lakes Real Estate Association Inc. MLS® home sales decline in May, supply remains historically low

The number of homes sold through the MLS® System of the Kawartha Lakes Real Estate Association Inc. totaled 109 units in May 2022. This was a big decline of 35.5% from May 2021.

Home sales were 9.2% below the five-year average and 22.1% below the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 465 units over the first five months of the year. This was a substantial reduction of 33.7% 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 $806,000 in May 2022, a jump of 30.4% compared to May 2021.

The dollar value of all home sales in May 2022 was $89.6 million, a substantial decrease of 25.4% from the same month in 2021.

The number of new listings saw a sizable gain of 20.6% from May 2021. There were 234 new residential listings in May 2022.

New listings were 13.3% above the five-year average and 7.2% below the 10-year average for the month of May.

Active residential listings numbered 216 units on the market at the end of May, a substantial gain of 62.4% from the end of May 2021.

Active listings were 23% below the five-year average and 49.8% below the 10-year average for the month of May.

Months of inventory numbered 2 at the end of May 2022, up from the 0.8 months recorded at the end of May 2021 and below the long-run average of 3.1 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