Kawartha: Record Sales Values
Monday Jan 17th, 2022
Higher Demand & Lack of Inventory Continues to Increase Sales Prices in the Kawartha Lakes Region
The MLS System of the Kawartha Lakes Real Estate Association Inc. reported:
51 homes sold in December 2021. Compared to December 2020.
- 27.1% decline
Year-over-year, Home Price Index (HPI) composite/single-family benchmark in December 2021 was $679,600.
- 39.1% increase
What Is Happening?
Lack of inventory of homes on the market is creating higher final sales values.
31 active listings - end of December 2021.
This is a staggering - 46.6% decrease - the lowest level on record in December for more than three decades!
Predictions for 2022?
We've seen incredible demand mostly due to:
- many being able to work remotely
- many wanting to move out of major cities
- low-interest rates
- low inventory
However, if the opposite occurs, we may see a price correction. We truly do not know. We do know that trying to plan and figure out the best time to sell, get the highest price and where to move to can be confusing and stressful.
For more information on this month's stats, visit: https://creastats.crea.ca/board/kawa