Kawartha Lakes Real Estate Association

The number of homes sold through the MLS® System of the Kawartha Lakes Real Estate Association Inc. totaled 91 units in August 2023. This was a small gain of 3.4% (three sales) from August 2022.

Home sales were 25.5% below the five-year average and 31.7% below the 10-year average for the month of August.

On a year-to-date basis, home sales totaled 644 units over the first eight months of the year. This was a substantial decline of 14.5% from the same period in 2022.

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 $669,200 in August 2023, a small reduction of 3.3% compared to August 2022.

The dollar value of all home sales in August 2023 was $62 million, a minor decrease of 1.7% from the same month in 2022.

The number of new listings saw a moderate gain of 8.2% (13 listings) from August 2022. There were 172 new residential listings in August 2023. This was the largest number of new listings added in the month of August in five years.

New listings were 5.4% above the five-year average and 3.2% above the 10-year average for the month of August.

Active residential listings numbered 340 units on the market at the end of August, increasing by 11.1% from the end of August 2022.

Active listings were 16.9% above the five-year average and 10.4% below the 10-year average for the month of August.

Months of inventory numbered 3.7 at the end of August 2023, up from the 3.5 months recorded at the end of August 2022 and above 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.