Listings have dropped 45.2% from January 2016, continuing to mark some of the lowest levels on record for active supply at this time of the year. Ending January 2017 there were only 264 active residential listings on the Association’s MLS® System. “Home sales in the region for January 2017 were above average despite a very slow start to the year for new listings,” said Kristi Willder, President of the Chatham-Kent Association of REALTORS®.
“It’s a seller’s market but no one is selling! There are people willing to sell but they are unsure where their next step will be, due to the lack of inventory. We are faced with a catch twenty-two situation in which the housing market can’t seem to keep up with the Buyer demand,” says Willder.
The average price of homes sold in January 2017 was $169,420, up 10.6% from January 2016. New listings numbered 104 units in January, down 38.5% from the same month in 2016.