1 April 2021
Category Uncategorised
1 April 2021,
 Off
The number of homes sold through the MLS® System of the Chatham-Kent Association of REALTORS® totaled 164 units in April 2021. This was more than double the levels from a year earlier, climbing 144.8% from April 2020. This was also a new sales record for the month of April.
Home sales were 37.6% above the five-year average and 38.2% above the 10-year average for the month of April.
On a year-to-date basis, home sales totaled a record 553 units over the first four months of the year. This was a substantial gain of 58% from the same period in 2020.
“MLS® home sales posted the third highest totals for any single month on record,” said Laura Tourangeau, President of the Chatham-Kent Association of REALTORS®. “Strong demand combined with a rising number of new listings helped propel sales to the highest April totals in history. With the spring market in full swing, we are starting to see outsized year-over-year percentage gains because of the extremely low numbers posted last year. Although these numbers should be taken with a grain of salt, it should not detract from the incredible string of records we have seen and continue to see in our region. With new listings above both the five and 10-year averages and outnumbering sales for the last few months, overall inventory appears to have set a floor and is now slowly rising. Competition for newly listed properties remains fierce, driving the average price in April to yet another all-time high, just shy of the $425K mark.”
The average price of homes sold in April 2021 was a record $424,321, an advance of 46.8% from April 2020.
The more comprehensive year-to-date average price was $404,109, up sharply by 47.7% from the first four months of 2020.
The dollar value of all home sales in April 2021 was $69.6 million, more than double the levels from a year earlier, jumping 259.3% from the same month in 2020. This was also a new record for the month of April.
The number of new listings more than doubled the levels from a year earlier, leaping 151.1% from April 2020. There were 221 new residential listings in April 2021. This was the largest number of new listings added in the month of April in five years.
New listings were 28.3% above the five-year average and 7.2% above the 10-year average for the month of April.
Active residential listings numbered 115 units on the market at the end of April, a significant decline of 29% from the end of April 2020. Although active listings haven’t been this low in the month of April in more than three decades, they appear to have hit a bottom and overall inventory is starting to rise slowly.
Active listings were 44.6% below the five-year average and 72.2% below the 10-year average for the month of April.
Months of inventory numbered 0.7 at the end of April 2021, down from the 2.4 months recorded at the end of April 2020 and below the long-run average of 3.6 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

 

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