The number of new homes listed for sale in Chatham-Kent has hit a record high.
According to the Chatham-Kent Association of Realtors, there were 275 homes listed for sale last month, a 26.1 per cent jump from August 2023 and the largest number of new listings added in the month of August in history.
New listings were also 19.2 per cent above the five-year average and 36.3 per cent above the 10-year average for the month of August.
“The overall level of available listings has begun trending down but remains above historical norms, so there is still a window of opportunity for buyers who are looking to negotiate a deal amid an ample supply of homes for sale,” said association president Carrie Patrick in a news release.
A total of 135 homes changed hands in August 2024, a 7.1 per cent increase compared to the same time last year. On a year-to-date basis, 885 homes sold over the first eight months of this year, a modest gain of 2.8 per cent from the same period in 2023.
“Home sales continued to rise in August and new listings hit their highest level on record for this month as our local market continues to gather steam,” said Patrick.
The average price of a home sold in August 2024 was $412,070, a shape decrease of 11.7 per cent year-over-year.
