When it comes to home sales, Chatham-Kent is still a seller's market.
The average price of a home in Chatham-Kent has hit a new record of nearly $260,000, while home inventory remains low.
Officials with the Chatham-Kent Association of Realtors have released their totals for the month of April. They report that 113 units were sold in April 2019, which is a 6.6 per cent drop compared to April 2018.
In terms of new listings, there were 186 units put on the market last month, but that is still below-average when compared to a year-over-year basis.
The average price of a home sold last month was $259,683, which is an 18.7 per cent jump from April 2018. The year-to-date average price was $245,186, which is up 26.6 per cent from the first four months of 2018.
“Sales activity was still running near average levels in April,” said Steve Carroll, president of the Chatham-Kent Association of Realtors. “That said, with the pool of available homes for sale still very low, monthly sales figures in recent months appear to be mostly influenced by how many new listings become available. The competition among buyers for limited listings is evident in the behaviour of prices, which continue to post large gains.”
By the end of April, the association reports 240 active residential listings, which is up 11.6 per cent compared to the same time last year. However, the long-term average usually lists more than 600 units.
