A strong supply of active listings throughout the last year has prompted increased housing sales within Chatham-Kent.
According to the Chatham-Kent Association of Realtors, 1,275 residential listings changed hands in 2024, an increase of 8.6 per cent compared to 2023. However, only 54 homes changed hands in the last month of the year, a decline of 3.6 per cent from December 2023.
“2024 marked a year of strong and sustained recovery in home sales supported by even stronger growth in listings coming onto the market from motivated sellers,” said association President Barbara McCaughrin in a news release. “Price gains are currently very modest and aren’t expected to show much in the way of gains in the short term until the market has had a chance to work through its above-average supply levels.”
There were 108 new homes listed for sale last month, 14 more than the same time in 2023. As well there were 369 listings on the market at the end of the year, an increase of 20.6 per cent year-over-year. Active listings haven’t been this high in the month of December in more than five years.
The average price of homes sold in December 2024 was $441,428, a moderate gain of 4.3 per cent from December 2023.