Another record setting month for home sales in Chatham-Kent.
According to the Chatham-Kent Association of Realtors, 182 properties changed hands in May, more than double levels seen earlier this year, and a whopping 104.5% higher than May, 2020.
Officials say it’s a new sales record for the month, and the highest level for any month in local history.
Laura Tourangeau, President of the Chatham-Kent Association believes potential buyers and sellers are feeling more confident with people adopting COVID safety measures and vaccination rates on the rise.
“We’ve seen a surge in new listings returning to the market, but this has done little to offset the white-hot pace of demand,” Tourangeau says. “With inventories still at record lows and market conditions still deep into seller’s territory.”
On a year-to-date basis, home sales totaled a record 734 units over the first five months of the year. This was up sharply by 67.2% from the same period in 2020.
The average price of homes sold last month was $398,827, an increase of 26.4% from May 2020. The year-to-date average price is $402,900.
