Home Sales. (Photo by © Can Stock Photo / Feverpitched)

CK Real Estate Bounces Back in August

Chatham-Kent home sales made a comeback in August after a quiet month in July.

According to the Chatham-Kent Association of Realtors, 155 units were sold in the municipality last month. That’s a 7.6% increase since August of last year. The association says this is the second best month of August on record for Chatham-Kent since 2007.

The average price of homes sold in August was $185,928, which is up 10.8% from this time last year. There were also 186 new listings in August, which is a 6.9% increase from August 2016.

“There was a little bit more inventory put on in August and I think people are just jumping on the listings as they come on the market,” says CKAR President Kristi Willder.

Willder adds that homeowners are likely pricing their homes higher due to a lack of competition in the area. She says home sales have been slow so far in September, but she hopes sales will continue to pick up.

“It would be nice to see significantly more units listed for the months of September and October and kind of bring fall in with good numbers, [because] due to the lack of inventory, there’s nothing for people to buy,” explains Willder.