Home sales are posting sizable gains in Chatham-Kent, while the number of homes on the market remains higher than it’s been in years.
According to the Chatham-Kent Association of Realtors, 132 homes were sold last month, which was a 32 per cent increase from June 2022.
There were 356 active residential listings on the market at the end of June, a 22.8 per cent gain from the same time last year. The realtor association said active listings haven’t been this high in the month of June in more than five years. However, the number of new listings on the market decreased by 7.4 per cent to 239.
“The recovery in sales has been helped along by above-average levels of new listings, something that other areas in the province have been lacking,” said association president said Matt Bechard. “However, sellers are not shying away from our local market and continue to fuel the rebound in sales activity. On the price side we’re seeing a steady upward trend but not quite at the record levels from last year.”
The average price of homes sold last month was up by 2.3 per cent from the same time last year to $440,471. However, the year-to-date average price in the first six months of 2023 was $429,604, a substantial decrease of 12.3 per cent from the first six months of 2022.