The battle of supply versus demand rages on when it comes to real estate in Chatham-Kent.
New stats from the Chatham-Kent Association of Realtors show 159 properties changed hands in August, down 1.9% from the year before.
Comparing this year to last, a record 1229 units were sold in the first eight months of 2021, a jump of 40.5% compared to the same period in 2020.
“Realtors are still very concerned that new home buyers are being priced out of the market,” Laura Tourangeau, CKAR president says. “While we saw an uptick in overall inventory last month, overall supply is trailing far behind demand, and as a result, prices continue to post new records. Housing should be a right, not a luxury for the people of Chatham-Kent.”
The average price of homes sold last month – $429,198, up by over 32% since August 2020. The more compressive year-to-date average price was $405,621, a 34.4% increase from the first eight months of 2020.
