Winter’s chill may have us in its grasp, but home sales in Chatham-Kent are hot.
The Chatham-Kent Association of Realtors (CKAR), report that sales in January were up nearly 34 per cent from January of 2024.
Eighty-seven units changed hands last month.
Home sales were 1.2 per cent above the five-year average and 12.5 per cent above the 10-year average for the month of January.
Barbara McCaughrin, president of CKAR, said it is good news all around.
“Sales roared back from December, surpassing the long-term January averages in a strong rebound,” she said in a media release. “New listings saw a modest rise but remained well above typical levels, more than doubling the number of sales. Yet despite this influx, overall inventory barely budged, remaining well above normal for this time of year.”
Home prices are up as well.
“Prices climbed year-over year, hitting their highest monthly average since summer 2023,” McCaughrin said. “With market conditions holding steady in balanced territory, the stage is set for an interesting few months ahead.”
The average price of homes sold in January 2025 was $464,769, a gain of nearly 16 per cent from January 2024.
The dollar value of all home sales in January 2025 was $40.4 million, an increase of 55.2 per cent from the same month in 2024.
McCaughrin tempered the enthusiasm from the hot January with the fact U.S. tariffs could have a profound impact on Chatham-Kent’s economy.
“Given the region’s significant agricultural and automotive sectors, these tariffs will almost certainly impact job security, and by extension cause home buyers to reassess their options,” she said.
The number of new listings rose seven per cent compared to January 2024.
Those new listings were 24.3 per cent above the five-year average and 38.7 per cent above the 10-year average for the month of January.
Active residential listings numbered 369 units on the market at the end of January, an increase of 18.6 per cent from the end of January 2024. Active listings haven’t been this high in the month of January in more than five years.
