Making sales and closing deals, the Kawartha Lakes Real Estate Association saw itself busy in September — busy enough, in fact, to set a new sales record for the month.
Over the course of the month, there were 166 new residential listings in the region, which presented a decrease of 10.8% year-over-year.
At the end of September, active residential listings numbered 179 units — again, a decline since the same month last year, in this case, by 62.6%. Overall inventory is “hovering slightly above” the lowest recorded levels in the region, says the report.
Also noted at September’s end, months of inventory — the number of months it would take to sell current inventories at the current rate of sales activity — numbered 1.1. This count is down steeply from 4.1 months: the MOI recorded at the end of September 2019, and the long-run average for this time of year.
Where year-to-date data is concerned, home sales totalled 1,111 units from January through September, representing a 15.7% increase over the first nine months of 2019.
Overall, Kawartha Lakes’ data doesn’t quite compare to the staggering upticks seen across the Muskoka Region — there, CREA reported a 92.6% increase in September property sales, y-o-y, while median prices surpassed those of the same month last year by 31.4%.
The month’s Kawartha numbers also show a slow-down when compared to the data pulled from August. That month, sales recorded through the MLS reached 192, surging 77.8% over sales recorded in August of 2019. But, of course, autumn isn’t the typical time cottage country will experience a boom in its real estate sector. The impact of COVID-19 continues to present itself through increased sales, but the numbers shouldn’t be expected to remain so high during cold weather as they did in the summer heat.
Overall, the tiny but mighty cottage country region should get fair credit, particularly when compared to Muskoka: the two remote areas are incredibly varied, and offer vastly different opportunities to potential-buyers hoping to snag a cottage country haven.
For those not keen on jumping into the massively-competitive Muskoka market, the Kawartha Lakes region is a more than worthy competitor. But if any of the currently-listed homes pique your fancy, don’t wait to make your move. These properties could all be snatched up in as little as 1.1 months, after all.