Despite a 25-year low in inventory, Chatham-Kent still posted average numbers for home sales in September.
According to the president of the Chatham-Kent Association of Realtors, Steve Carroll, a total of 998 homes have been sold so far this year, which is down 4.5 per cent over the same period in 2017.
“Home sales posted a healthy if average showing in September, above the 10-year average for the month and a little below the five-year average,” Carroll said. “Solid sales coupled with record-low supply is the main reason prices are running well above last year’s levels.”
It certainly seems to be a seller's market as the average price of homes sold this year is $210,453, up more than over 15 per cent from the first nine months of 2017.
September saw the lowest number of new listings in 25 years totalling just 143. Active residential listings were down more than they had ever been in CK for the time of year, totalling 249 units at the end of September.