Real estate sales in Chatham-Kent for September continued an upward trend.
Sales last month totaled 114 units, up more than 15 per cent compared to September 2023, according to figures from the Chatham-Kent Association of Realtors (CKAR)..
This marked the third consecutive month C-K real estate sales topped 2023 figures.
Still, home sales in September were seven per cent lower than the five-year and 10-year averages for the month of September.
A total of 999 homes changed hands in the first nine months of the year, up about four per cent compared to the same period in 2023.
CKAR president Carrie Patrick said the market is starting to roll.
“Sales activity upheld the momentum built over the past several months, continuing to move closer back to more normal levels for this time of year,” she said in a media release.
On top of that, more homes are on the market. Patrick said new listings exploded in September, up 37.5 per cent from the same month a year ago.
“The other major story was with new listings, which set the highest level on record by far of any September in history and marking the first time new listings had surpassed 250 in this month,” she said. “However, with overall inventories rising but not reporting as impressive of a spike, it is likely that many of these listings were re-priced and re-listed as sellers become increasingly motivated to attract buyers.”
There were 275 new residential listings in September.
Active residential listings numbered 478 units on the market at the end of September, up by 24.2 per cent from the end of September 2023. Active listings haven’t been this high in the month of September in more than five years.
The average price of homes sold in September topped $437,000, up slightly from last year.
So far in 2024, the average price sits at $427,759, down about one per cent for the first nine months of 2023.
The combined dollar value of the 114 properties sold in September totalled nearly $50 million, up 16.5 per cent from September of 2023.
