Chatham-Kent hit near record home sales last month.
The Chatham-Kent Association of Realtors say residential sales are up 22.6 per cent from last year at this time.
Sales hit 563 units during the first five months of the year, which is up nearly 23 per cent from the same time last year.
The record for home sales in Chatham-Kent is came in May 2010 at 166 units. This May's sales were just three short of that mark with 163 units sold.
“Home sales in May 2016 marked a three-way tie with May 2004 and August 2007 for the second highest number of monthly transactions ever recorded in the region,” said Barb Phillips, realtors association president.
“With demand remaining near all-time highs and supply testing fresh lows, it is amazing to see our prices remain the most affordable in Ontario.”
The average price of homes sold in May was $172,837, up 9.2 per cent from May 2015.
New listings numbered 227 units in May, a decrease of 6.6 per cent from the same month last year. There were 528 active residential listings on the Association’s MLS® System at the end of May 2016. This was down 23.1 per cent from May 2015, and marked the lowest level of active supply at this time of year since 1994.
