There’s some good news and some bad news in this month’s real estate report.
The Chatham-Kent Association of Realtors look at the October numbers shows a lack of listings. In fact, inventory levels are at historical lows.
However, on the bright side the properties that are moving are generating selling quite high.
“MLS home sales in Chatham-Kent came closer to historically average levels in October,” President Michael Gibbons says. “New listings outpaced sales this past month, helping to stabilize the declining the number of active listings. However, current overall inventory is still hovering only slightly above the lowest levels in history. Meanwhile, average price continued its trek higher, setting a new record for the third time in four months.”
129 units changed hands in October, off 6.5% from October of 2019. And year to year, 1126 sales have taken place down just over 3% over the first 10 months of 2019.
Big prices are way up. In fact, up 33% from October of last year with the average sale price hitting a record high of $329,495. Year-to-year, the average of $305,000, a 21.6% bump over the first 10 months of 2019.
