It was a dreary April in terms of home sales across Chatham-Kent.
Sales for the month are down by more than 21 per cent of the average over the past five years. Looking even further back, they were down 16 per cent compared to the average over the past 10.
Through the first four months of 2025, 349 units have been sold – 105 of which changed hands in April. Comparing to January-April of 2024, that’s down by 6.7 per cent.
Barbara McCaughrin, president of the Chatham-Kent Association of Realtors, said the housing market has plummeted to pre-pandemic levels.
“Sales activity posted the lowest showing for April since the onset of the pandemic,” she said in a media release.
McCaughrin said it does, however, represent good news for prospective buyers.
“With prices dropping and high inventory, it presents opportunities for buyers in our region,” she said.
What’s more, with the federal election behind us, and signs of improving Canada-U.S. relations, McCaughrin expects the market should perk up soon.
“With a newly elected Canadian government, we are hopeful that negotiations on the trade front will continue and there will be a clearer path forward on policies affecting our members and the economy. We expect an upshift in May as a typical spring market begins.”
The number of properties sold wasn’t the only drop in the real estate market in April. According to CKAR figures, the average price of homes sold in April was $424,313, down by seven per cent from April 2024.
The more comprehensive year-to-date average price was $432,292, however, which represents a minor increase of 2.5 per cent from the first four months of 2024.
The number of new listings increased by almost six per cent from April 2024. There were 285 new residential listings in April 2025. This was the largest number of new listings added in the month of April in a decade.
New listings were 18.8 per cent above the five-year average and 36.2 per cent above the 10-year average for the month of April.
