Home prices high in Chatham, but supply running low

Home sales are down in Chatham-Kent but remain high due to a low number of new listings. 

“Home sales were running in line with their 10-year average in May, but even that average level of activity may be hard to maintain going forward if new listings don’t start to pick up,” said Steve Carroll, President of the Chatham-Kent Association of Realtors.

With the number of new listings so low prices are continuing to trend up to record highs.

In May of 2018 the average price of a home was $214,832 up 3.1 per cent from May 2017.

Active residential listings numbered just 170 units at the end of May, plunging 48.3% from the end of May 2017.