Home sales are still going strong in Chatham-Kent and the prices continue to hit record highs.
The latest word from the Chatham-Kent Association of Realtors (CKAR) is that the average price of the homes that sold locally last month was $254,356 -- that's down slightly from April's average of $259,683, but still good enough to set a record high for the month of May. The average price last month was also up 18.5 per cent compared to the same month in 2018.
Overall for 2019, the average price of is up 24.2 per cent from the first five months of 2018, coming up just short of $250,000.
The increase in price doesn't appear to be scaring away buyers, though.
CKAR President Steve Carroll said the number of homes that changed hands last month locally was also up about 8.5 per cent compared to May 2018.
"Only five other monthly sales figures in history stand above the 153 homes that traded hands in May 2019, so the market continues to do very well," said Carroll. "At the same time, the pool of homes available for sale is still very low, and the competition among buyers for limited listings is evident based on selling prices."
There were 219 new residential listings in Chatham-Kent last month and 275 active residential listings at the end of the month. That's a significant increase compared to May 2018, but still below normal for this time of year.
