House Sales Up, Prices Slip

Chatham-Kent Association of Realtors(Photo by Simon Crouch)

There was a big increase in house sales, but a drop in prices in Chatham-Kent last month, as realtors recorded their highest March sales numbers in a decade.

The Chatham-Kent Association of Realtors March report indicates 114 units were sold, an increase of 42.5 % from last year.

Association President Barb Phillips says the 257 units sold so far this year represents 17.9 % jump from the first three months of 2015.

The average price and the number of listings both fell in March. The March average was $151,279 which is a drop of 7.6 % from last March but for the first three months of the year the average price is down just 0.9 % from a year ago.

There were 177 new listings last month and 506 listings actively for sale.

Phillips says the number of listings is down 6.8 % from last March and is the lowest number of active listings since the late 1990s.