June was nearly another record month for home sales in Chatham-Kent.
Residential sales recorded through the MLS system of the Chatham-Kent Association of Realtors totalled 148 units last month. That is up 1.4 per cent on a year-over-year basis, and it was only six sales shy of the record for the month of June set a decade ago.
A record 739 units were sold over the first half of the year, rising 4.2 per cent from the same period in 2016.
“Home sales in the Chatham-Kent region have slowed down a little bit, going from record levels to near-record levels, but the market is still very strong,” said Kristi Willder, the President of CKAR.
“Unlike some other markets to the East of us, our market has not seen any increase in new listings in recent months” added Willder. “As a result, overall inventories are testing fresh all-time lows, and that is keeping upward pressure on prices.”
The average price of homes sold in June was $206,978, up 27.5 per cent from June 2016.
The year-to-date average price was $192,419, rising nearly 19 per cent from the first half of last year.
New listings numbered 180 units in June, down 26.8 per cent from the same month in 2016. This was the lowest June level in nearly two decades.
There were just 311 active residential listings on the MLS system at the end of June, a new record low for this time of year, down 43.1 per cent from last June.
