Home sales were scorching in July, according to the Chatham-Kent Association of Realtors.
Sales were up more than 18% compared to the same month last year.
For the year, sales are up 9.2% through the first seven months. It’s the highest level since 2008.
“The local housing market remained historically strong in July, posting the third best sales figure on record for the month, and also marking the third straight month of above average activity in the region,” said Jamie Winkler, President of the Chatham-Kent Association of Realtors, said in a media release. “While it’s still not an all-out sellers’ market, the balance of demand and supply has tightened, and price growth is running ahead of inflation for the fourth consecutive year as a result.”
The average price of homes sold in July 2015 was $152,735, up 2.3% from July 2014. The year-to-date average sale price was $158,538, an increase of 3.1%.
