Housing prices continue to rise as the number of homes for sale heads in the other direction in Chatham-Kent.
According to the Chatham-Kent Association of Realtors, the average price for a home in C-K is more than $210,000, up nearly 16 per cent from the same time last year.
But the number of available new homes for sale in September in the municipality sat at 143, down 2.7 per cent on a year-over-year basis and the lowest September level in 25 years.
Active residential listings numbered 249 units at the end of September. This was a decrease of 12.3 per cent from the end of September 2017 and marked the lowest level on record for this time of the year.
Home sales in September were luke-warm.
“Home sales posted a healthy if average showing in September, above the 10-year average for the month and a little below the five-year average,” said Steve Carroll, President of the Chatham-Kent Association of Realtors, in a media release. “Solid sales coupled with record-low supply are the main reasons prices are running well above last year’s levels.”
Residential sales totalled 998 units over the first nine months of the year. This is down 4.5 per cent from the same period in 2017.
