Home sales stay hot

Dec 10 • Business, Feature StoryNo Comments on Home sales stay hot

The cold weather may be upon us, but home sales remain sizzling locally.

In November, 99 units sold, according to the Chatham-Kent Association of Realtors. That’s up more than 11 per cent from November 2018.

Through the first 11 months of the year, 1,271 homes changed hands in the municipality, up more than five percent for the same time a year ago.

Steve Carroll, president of the association said supply is still lagging far behind demand, however.

“Home sales marked a third-straight solid showing in November despite the supply of listings available for sales having now fallen below the 200 mark,” he said in a media release. “Unprecedented market tightness is pushing prices higher, with the average sale price set to post a third-consecutive double-digit annual gain this year.”

The average price of homes sold in November 2019 was $243,721, edging up 1.1 per cent from November 2018.

The more comprehensive year-to-date average price was $250,650, climbing in excess of 17 per cent from the first 11 months of 2018.

There were 115 new residential listings in November 2019. This was up 5.5 per cent (six listings) on a year-over-year basis.

But active residential listings numbered 190 units at the end of November. This was a decrease of 14 per cent from the end of November 2018 and marked the lowest level on record for the month.

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