A tight supply in the housing market means it’s a sellers dream come true.
House prices are up more than 30% in the first three months of 2019 than they were in 2018.
The average price was about $180,000 last year, and now it’s $238,332.
“It looks like these fluctuations in sales are more a supply story than a demand story” says Steve Carroll, president of the Chatham-Kent Association of Realtors. “Given how few homes are out there for sale, monthly sales figures seem to be very much influenced when new listings become available. The competition among buyers for limited listings is evident in the behaviour of prices, which have been posting huge gains of late.”
100 homes traded hands last month, which is down a little more than a dozen from last year. There are currently 200 homes being actively listed, which is down from the normal 550 listing in March.
Year to date, 240 houses have sold in the municipality.
