Home Sales Rising

Home sales in Chatham-Kent were up last month compared to last year, but the average price is down.

According to the Chatham-Kent Association of Realtors, a total of 65 units were sold last month, up 7% from 60 units in February of last year. Meantime, the average price of a home sold was $125,213, down 11% from $138,986 last year.

“I think people get nervous about interest rates always going up,” says association President Ron Smith. “If they’re in a position to be able to buy I think people are anxious to do that to avoid any uprising in interest rates.”

The number of new listings to hit the market was 153 units, down 10% from 168 for the same time frame. Home sales numbers, average prices and new listings all sputtered. The harsh winter gets the blame.