Matt Bechard President
July 7, 2023
Chatham-Kent Association of REALTORS ® MLS ® home sales post sizeable gains as recovery remains solid in June
The number of homes sold through the MLS ® System of the Chatham-Kent Association of REALTORS ® totaled 132 units in June 2023. This was a substantial gain of 32% from June 2022.
Home sales were 2.7% below the five-year average and 2.4% below the 10-year average for the month of June. On a year-to-date basis, home sales totaled 618 units over the first six months of the year. This was a significant decrease of 17.6% from the same period in 2022.
“Sales activity posted the first year-over-year gain since February 2022 as the recovery in demand continued along in June, with figures for the month almost back in line with their longer-term averages,” said Matt Bechard, President of the
Chatham-Kent Association of REALTORS ®. “The recovery in sales has been helped along by above-average levels of new listings, something that other areas in the province have been lacking. However, sellers are not shying away from our local
market and continue to fuel the rebound in sales activity. On the price side we’re seeing a steady upward trend but not quite at the record levels from last year. The average price of homes sold in June 2023 was $440,471, up modestly by 2.3% from June 2022.”
The more comprehensive year-to-date average price was $429,604, a substantial decrease of 12.3% from the first six months of 2022. The dollar value of all home sales in June 2023 was $58.1 million, a jump of 35% from the same month in 2022.
The number of new listings decreased by 7.4% from June 2022. There were 239 new residential listings in June 2023. New listings were 11.4% above the five-year average and 16.1% above the 10-year average for the month of June.
Active residential listings numbered 356 units on the market at the end of June, a gain of 22.8% from the end of June 2022. Active listings haven’t been this high in the month of June in more than five years. Active listings were 41.5% above the five-year average and 0.1% below the 10-year average for the month of June.
Months of inventory numbered 2.7 at the end of June 2023, down from the 2.9 months recorded at the end of June 2022 and below the long-run average of 2.8 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.
For more information contact CKAR 2023 President Matt Bechard at (226) 998-7653
Matt is Broker of Record and Co-owner of Match Realty Inc. He has always had a strong passion for Real Estate and is an avid Real Estate investor, specifically in Chatham. Matt holds a Bachelor of Commerce specialized in accounting and had previously worked in a Sales Leadership position for a fortune 500 company where he has further developed his negotiation and management skills. Matt is analytical and down to earth. He is excited to put his diverse skillset to use while serving the Board. He also is bilingual in French and English.
The Chatham-Kent Association of REALTORS® represents 225+ REALTORS® registered with its member offices. The geographical area served by the Board is the municipality of Chatham-Kent in the heart of southwestern Ontario