Chatham-Kent home prices skyrocket

Chatham-Kent Association of Realtors sign in Chatham-Kent. (Courtesy CKAR)

It is getting more expensive to buy a home in Chatham-Kent.

Statistics from the Chatham-Kent Association of Realtors the average price of a home sold in June was $242,968. That is up 24 per cent from June 2018.

The number of homes sold last month was 129, up only 0.8 per cent from June 2018.

“Home sales were solid in June, which it better than is sounds given how few homes are out there for sale right and the price levels compared to just one year ago,” said Steve Carroll, president of CKAR. “The intense competition among buyers for limited listings this year continues to show up in the behaviour of prices, which are on track for a huge gain in 2019.”

There were 168 new residential listings in June, an increase of 15.1 per cent on a year-over-year basis but still below the same month in most other years.

For the first six months of this year, home sales totaled 634 units. That is up 1.1 per cent over the same period in 2018.

The average price for a home year-to-date is up 24.2 per cent to $246,948.