More homes in Chatham-Kent have been taken off the market, but they're being sold at steeper prices.
The Chatham-Kent Association of Realtors said 104 units were sold last month, which marked a new sales record for the month of February and was a 20.9 per cent increase compared to the same month last year.
"Home sales surpassed the 100 level for the first time ever in February, although with the way demand has persisted throughout the past several months this doesn’t come as much of a surprise anymore," said Chatham-Kent Association of Realtors President Laura Tourangeau.
The average price of homes sold last month was a record $385,803.
When comparing this past February to February 2020, the average price of homes sold went up 35 per cent. The association said the total dollar value of homes sold in February was $40.1 million, an increase of 63.3 per cent compared to the same time last year.
While there were several increases noted last month, there was a drop in the number of active residential listings.
There were 74 active listings on the market at the end of February, which is a 58.4 per cent decrease from the same time last year.
"Active listings haven't been this low in the month of February in more than three decades," read a release from the association.
