Chatham-Kent Association of REALTORS® MLS® home sales remained subdued due to economic uncertainty
The number of homes sold through the MLS® System of the Chatham-Kent Association of REALTORS® totaled 91 units in March 2025. This was down sharply by 14.2% (15 sales) from March 2024.
Home sales were 27.3% below the five-year average and 23% below the 10-year average for the month of March.
On a year-to-date basis, home sales totaled 244 units over the first three months of the year. This was a decrease of 5.4% (14 sales) from the same period in 2024.
“March home sales dropped to their lowest level in a decade amid the tariff uncertainty leading up to the April 2nd announcement, while a near-record level of new listings coming onto the market continues to prop up inventories at their highest levels since 2016,” said Barbara McCaughrin, President of the Chatham-Kent Association of REALTORS®. “Potential buyers may hold back to see what impact this has on employment in the months ahead before committing to a purchase.”
The average price of homes sold in March 2025 was $420,299, a small gain of 3.2% from March 2024.
The more comprehensive year-to-date average price was $435,726, increasing by 7.2% from the first three months of 2024.
The dollar value of all home sales in March 2025 was $38.2 million, a sharp decrease of 11.4% from the same month in 2024.
The number of new listings was up by 9.3% from March 2024. There were 247 new residential listings in March 2025. This was the largest number of new listings added in the month of March in more than a decade.
New listings were 11.5% above the five-year average and 33.2% above the 10-year average for the month of March.
Active residential listings numbered 412 units on the market at the end of March, an increase of 4.8% from the end of March 2024. Active listings haven’t been this high in the month of March in more than five years.
Active listings were 51.7% above the five-year average and 53.8% above the 10-year average for the month of March.
Months of inventory numbered 4.5 at the end of March 2025, up from the 3.7 months recorded at the end of March 2024 and above the long-run average of 2.5 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
| Percentage change compared to | |||||||
|---|---|---|---|---|---|---|---|
| Monthly | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2020 | Mar 2018 | Mar 2015 |
| Sales Activity | 91 | -14.2% | -14.2% | -38.1% | -10.8% | -24.2% | 9.6% |
| Average Price | $420,299 | 3.2% | 1.2% | -19.9% | 58.5% | 126.8% | 167.7% |
| Dollar Volume* | $38.2 | -11.4% | -13.1% | -50.4% | 41.4% | 72.0% | 193.5% |
| New Listings | 247 | 9.3% | 8.3% | 16.5% | 122.5% | 76.4% | 19.3% |
| Active Listings | 412 | 4.8% | 16.4% | 249.2% | 152.8% | 100.0% | -20.8% |
| Percentage change compared to | |||||||
|---|---|---|---|---|---|---|---|
| Year-to-date | Mar 2025 YTD | Mar 2024 YTD | Mar 2023 YTD | Mar 2022 YTD | Mar 2020 YTD | Mar 2018 YTD | Mar 2015 YTD |
| Sales Activity | 244 | -5.4% | 7.0% | -38.4% | -15.0% | -2.0% | 8.4% |
| Average Price | $435,726 | 7.2% | 5.3% | -14.0% | 64.2% | 139.9% | 189.4% |
| Dollar Volume* | $106.3 | 1.4% | 12.7% | -47.0% | 39.6% | 135.1% | 213.8% |
| New Listings | 570 | 0.0% | 7.1% | 19.0% | 55.3% | 65.2% | 14.2% |
| Active Listings** | 378 | 8.6% | 19.5% | 321.9% | 127.5% | 82.8% | -25.2% |
| Legend |
|---|
| * In millions of dollars |
| ** The year-to-date active listings figure is a monthly average of the number of homes on the market at the end of each month so far this year |
BOARD & ASSOCIATION INFORMATION
The Chatham-Kent Association of REALTORS® represents 200+ REALTORS® registered with its member offices. The geographical area served by the Board is the municipality of Chatham-Kent in the heart of southwestern Ontario.
CHATHAM-KENT ASSOCIATION OF REALTORS®
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For more information,
please contact:
- 519-352-4351
- ckreb@mnsi.net
Barbara McCaughrin
