Following two months of weak sales numbers, the head of the Chatham-Kent Association of Realtors (CKAR) said there are signs the market is shifting in the right direction.
For starters, following a very weak June, where sales were nearly 30 per cent lower than June 0f 2024, property transactions in July were down 11.5 per cent from the same period last year.
It’s a sign the sluggish market could be accelerating again.
“The road back from the plunge in demand over most of the first half of the year has been slow and uneven, but there are signs that sales activity is moving in the right direction,” said Barbara McCaughrin, CKAR president, in a media release.
“On the supply side, sellers are as motivated as ever to move their properties and are listings homes in our region in record numbers. This has boosted overall inventories back up to levels unseen since early 2016 as more supply is entering the market than buyers are able or willing to absorb. We’re hoping to see more balance emerge in the months ahead between supply and demand.”
A total of 15 fewer homes changed hands in July as compared to July 2024.
Looking at the year to date, home sales totaled 729 units over the first seven months of the year. This was a minor decrease of less than three per cent from the same period in 2024.
Home prices continue to dip as well. The average price of homes sold in July 2025 was $443,205, a small reduction of 2.7 per cent from July 2024. Again, that was a short-term number, as sales through the first seven months saw prices up about 1.4 per cent from the same period in 2024.
The number of new listings was up about two per cent compared to last July. Still, there were 276 new residential listings last month. This was also the largest number of new listings added in the month of July in history.
Looking back over the past decade, new listing are more than 25 per cent above the 10-year average for the month of July.
Active residential listings numbered 567 units on the market at the end of July, an increase of 16.7 per cent from the end of July 2024. Active listings haven’t been this high in the month of July in a decade.
