The number of homes for sale in Chatham-Kent continues to grow as sellers eagerly wait for buyers to return to the market.
According to the Chatham-Kent Association of Realtors, 233 new homes were listed for sale in October 2024, which was the largest number of new listings added in the month of October in more than 15 years.
“Sellers are chomping at the bit for the long-awaited return of buyers into the market,” said association president Carrie Patrick in a news release. “We expect the market will quiet down as it normally does into late fall and through the winter, although if interest rates continue to decline we may see a stronger than normal seasonal pattern emerge on the demand side.”
A total of 114 homes were also sold last month, a 37.3 per cent jump compared to the same time in October 2023.
“Sales activity has been building momentum unevenly since the beginning of the year, with many up-and-down movements from month to month but still presenting a definite upward trend,” said Patrick.
There were 469 homes listed for sale in CK at the end of last month, a five-year high, and a 17.5 per cent increase over the same time last year.
The average price of homes sold in October 2024 was $413,012, up 0.9 per cent from October 2023.
