If you are looking to buy a home in Chatham-Kent right now, there is no shortage of options.
The Chatham-Kent Association of Realtors released its monthly home sales statistics Thursday morning, noting that 319 new residential listings hit the market in June.
That is about a 31 per cent increase from June 2024 and the highest number of new listings in any month in Chatham-Kent ever.
"New listings had previously only ever surpassed the 300 mark back in April 2008," said Barbara McCaughrin, President of the Chatham-Kent Association of Realtors.
The number of active residential listings in Chatham-Kent rang in at 552 units on the market at the end of last month, a noticeable gain of 15 per cent compared to the end of June 2024.
CKAR's report also noted that active listings have not been this high in the month of June in a decade.
Despite the glut of new homes hitting the market, McCaughrin said there are signs of a slow and steady recovery in the local housing market.
"Home sales may have come in lower compared to the same month in the past two years, but looking through the monthly seasonal noise it appears that activity is slowly moving back up," said McCaughrin, noting that on a year-to-date basis, home sales by volume are only down one percent compared to the same period in 2024.
In June, 116 homes changed hands, a substantial decrease of about 10 per cent compared to the same month last year.
The competition for buyers does not seem to be driving down the average price, though.
The average price of the homes that sold in Chatham-Kent in June was $438,058, up by about three per cent compared to June 2024.
