December home sales in Chatham-Kent cooled off compared to the same month last year.
The Chatham-Kent Association of Realtors says 66 units were sold last month, which is down 18.5% from last December’s record month. However, it's roughly in line with the five and 10-year averages for the month of December.
The local association of realtors reports home sales totalled 1,443 units for all of 2017, which is down 1.6% or 24 sales from the all-time annual record in 2016. Local realtors say 2017 was the second best year on record for home sales in the region.
However, Association President Steve Carroll says there were only 198 homes for sale at the end of 2017, which is a record low for this time of year. He says as a result of increased competition, average home prices have jumped by 13.1% to $184,658.