Home sales show signs of cooling off after red-hot run in CK

© Can Stock Photo / mflippo

Home sales appear to be cooling off a bit in Chatham-Kent after a record-breaking run over the past couple of years.

The Chatham-Kent Association of Realtors says 140 units changed hands locally in April, down about 12 per cent compared to April 2021.

Overall for the year, home sales have decreased 5.2 per cent from the same time in 2021.

President of the Chatham-Kent Association of Realtors Amber Pinsonneault said while the total sales were down, the average prices are still going up, though.

“Home sales declined from last April’s record but not by as much as in other markets in the province,” said Pinsonneault. “New listings are still trending at average levels for this time of year… On the price side things are still at record price levels, but we aren’t seeing as many offers.”

The average price of the homes that sold in Chatham-Kent in April was $498,325 — up about 18 percent from April 2021 and good enough to set another new record high for the month.

The average price of the homes sold in April was down from March, though, which hit $522,600.

The number of new listings decreased slightly by 4.7 per cent in April compared to the same month in 2021 with 202 new homes hitting the market.