The number of homes that are up for sale in Chatham-Kent is at a record low.
There were only 300 homes on the Chatham-Kent Association of Realtors' (CKAR) MLS System at the end of April. That is down more than 40% from April 2016 and is having a direct effect on how many homes are changing hands in the area.
"Home sales were not able to match last April's tally, quite likely because there are so few listings on the market right now," says CKAR President Kristi Willder.
A total of 132 homes were sold in April 2017, down 7.7% compared to April 2016.
Fewer homes are hitting the market too -- there were only 196 new listings last month, down 16.9% from the same period last year.
While supply is down, the price is up.
The average price of the 132 homes that were sold last month was $174,396 -- that's an increase of 5.4% from April of last year.
