Another hot month for Chatham-Kent’s real estate market – THE hottest in fact.
According to stats from the Chatham-Kent Association of Realtors, 160 homes traded hands in August, up 24% from the year before, and setting a new sales record for any month on record.
“August was another record setting month for Chatham-Kent real estate,” said Michael Gibbons, President of the Chatham-Kent Association of REALTORS®. “New listings continued however, demand is so strong it effectively removes any gains made in supply especially in the lower- to mid-price ranges. Consequently, the average sale price of properties rose to another all-time high breaching the $325,000 level for the first time in history.”
The average price of homes sold in August 2020 was a record $325,526, but the more comprehensive year-to-date average price was $300,605, up 20.6% from the first eight months of 2019.
At the end of August, there were 128 units on the market, a drop of 49.4% from the end of August 2019.