Home sales in Chatham-Kent continue to set new record highs for average prices and record lows for inventory.
The year-to-date average price hit a new all-time record high in Chatham-Kent at $194,276 in April, up 7.5% from the first four months of 2017.
"Home sales were solid in April, not quite as strong as in March but still above the 10-year average for this time of the year," said Steve Carroll, president of the Chatham-Kent Association of Realtors (CKAR). "With supply as low as it is, it was likely we would see prices begin to re-accelerate."
Carroll says there were only 179 new residential listings last month, which is down 8.7% compared to the same month last year -- it's also the lowest level of new listings for the month since 1993.
By the end of the month, there were only 223 units still actively up for sale. Carroll says that's down a little over 25% from the end of April in 2017 and the "lowest level on record by a large margin" for the month.
