1 June 2021
Category Uncategorised
1 June 2021,
 Off
The number of homes sold through the MLS® System of the Chatham-Kent Association of REALTORS® totaled 192 units in June 2021. This was an advance of 42.2% from June 2020. This was also a new sales record for the month of June and was the highest level for any month in history.
Home sales were 31% above the five-year average and 43.1% above the 10-year average for the month of June.
On a year-to-date basis, home sales totaled a record 922 units over the first six months of the year. This was up sharply by 60.6% from the same period in 2020.
“While many other markets in Ontario are experiencing a cooldown from the breakneck pace of activity earlier this year, sales activity in the Chatham-Kent region shows no signs of slowing down,” said Laura Tourangeau, President of the Chatham-Kent Association of REALTORS®. “New listings have surged back onto the market in a big way. However, the pace of demand is so hot right now that this much needed influx of new supply has only barely managed to keep overall inventories from falling any further. Market conditions remain historically tight and the number of listings available for sale is still trending at record lows, which is going to keep upward pressure on prices until we see any meaningful reversal of these trends.”
The average price of homes sold in June 2021 was $413,862, an increase of 26.4% from June 2020.
The more comprehensive year-to-date average price was $405,533, a jump of 38.5% from the first six months of 2020.
The dollar value of all home sales in June 2021 was $79.5 million, a substantial gain of 79.7% from the same month in 2020. This was a new record for the month of June and was also the largest dollar value of homes sold for any month in history.
The number of new listings saw a gain of 25.8% from June 2020. There were 234 new residential listings in June 2021. This was the largest number of new listings added in the month of June in a decade.
New listings were 28% above the five-year average and 20.1% above the 10-year average for the month of June.
Active residential listings numbered 159 units on the market at the end of June, down sharply by 19.3% from the end of June 2020. Active listings haven’t been this low in the month of June in more than three decades.
Active listings were 32.6% below the five-year average and 64.3% below the 10-year average for the month of June.
Months of inventory numbered 0.8 at the end of June 2021, down from the 1.5 months recorded at the end of June 2020 and below the long-run average of 3.7 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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