Chatham-Kent’s real estate market continues its uneven path upwards.
According to a media release from the Chatham-Kent Association of Realtors (CKAR), a total of 114 units changed hands in October, up 37.3 per cent over the same month the previous year.
However, home sales were 6.9 per cent below the five-year average and 6.3 per cent below the 10-year average for the month of October.
According to CKAR president Carrie Patrick, sales momentum has been building since the beginning of the year, with many up-and-down movements from month to month.
But, she said, it’s still presenting a “definite” upward trend.
New listings are at the second highest level for October on record as sellers chomp at the bit for the long-awaited return of buyers to the market, Patrick explained.
“We expect the market will quiet down as it normally does into late fall and through the winter, although if interest rates continue to decline, we may see a stronger than normal seasonal pattern emerge on the demand side,” she added.
The average price of homes sold in October 2024 was $413,012, up 0.9 per cent from October 2023.
