Royal LePage’s Steve Carroll will tackle the role of president of the Chatham-Kent Association of Realtors for next year.
He earned the nod at the Holiday Members’ Meeting of the association, which took place Dec. 13 at Club Lentinas.
Carroll succeeds Kristi Willder as president. He’s taking over at a time where the housing market typically cools off with the weather.
Only this isn’t a typical time.
Fresh off a hot November where 133 homes changed hands in Chatham-Kent, Willder said it’s still a busy time for local realtors.
Carroll concurred.
“Normally this time of year is when things are slowing down. It hasn’t,” he said. “But the lack of inventory is great for sellers.”
Throughout the year, home sales have been brisk, but what the local market is lacking is volume of homes for sale. That low inventory makes new listings hot commodities.
Carroll said sellers are seeing multiple offers, often at the asking price and sometimes above.
“I have never seen this type of activity in the 20-plus years I’ve been in it,” he said of the local real estate market.
In November, the average price of a home was $190,000, up nearly 18 per cent from the same time a year ago. Carroll doesn’t see the market changing any time soon.
He expects to continue to see a strong percentage of buyers coming from out of town as well.
“You have people from out of the area – east of London, or out west – who can sell their home at a very good price and move here. Our housing prices and our weather are attractive,” he said. “People come out of the high-cost areas who are first time buyers and can afford a home here. People retire, buy a nice home here and still can put money in the bank.”
About one third of sales are to out-of-town customers.
Carroll offered some advice to people looking to buy a home – sell yours first.
“Few offers are conditional on sale of your home anymore. We tell people they need to get their home sold first,” he said.
The association also donated to a trio of local charities at their gathering last week, as the Foundation of the Chatham-Kent Health Alliance, Outreach for Hunger and Hope Haven all benefitted.
