Chatham-Kent home sales average price hits new record of almost $260,000

Residential sales activity recorded through the MLS® System of the Chatham-Kent Association of REALTORS® numbered 113 units in April 2019. This was down 6.6% (eight sales) from April 2018 and stood just two sales off the 10-year average for that month. On a year-to-date basis, home sales totalled 352 units over the first four months of the year, down 1.7% (six sales) from the same period in 2018.

“Sales activity was still running near average levels in April,” said Steve Carroll, President of the Chatham-Kent Association of REALTORS®. “That said, with the pool of available homes for sale still very low, monthly sales figures in recent months appear to be mostly influenced by how many new listings become available. The competition among buyers for limited listings is evident in the behaviour of prices, which continue to post large gains.”

The average price of homes sold in April 2019 was a record $259,683, jumping 18.7% from April 2018. The more comprehensive year-to-date average price was $245,186, surging 26.6% from the first four months of 2018.

There were 186 new residential listings in April 2019. This was an increase of 13.4% on a year-over-year basis but was still a below-average result for the month.