Another month, another record for home sales in Chatham-Kent.
The local Association of Realtors said 133 homes changed hands in November. That’s up nearly 10 per cent from November of last year, and a new November record in Chatham-Kent.
Through November of this year, home sales reached 1,377 units, just nine fewer than last year. Sales were on a record pace until an ice-cold July, where sales were down 39 per cent from 2016. It has been the only flat month of the year in local real estate sales.
“November set yet another monthly record for home sales, the fourth this year along with February, May and October,” said Kristi Willder, President of the Chatham-Kent Association of Realtors in a media release. “The records of the past two months have moved activity for the year as a whole to within less than 10 sales of last year’s record. Regardless of how the December numbers shake out, the bigger picture is that the last two years have been the strongest the local housing market has ever seen. At the same time, with inventories trending at all-time lows, the average price will be up by about 15 per cent this year.”
The average price of homes sold in November was $190,212, up 17.9 per cent from November 2016.
The year-to-date average price was $185,642, rising 14.5 per cent from the first 11 months of last year.
New listings numbered 117 units in November, down 5.6 per cent from the same month in 2016. This was the lowest level for the month in nearly three decades.
There were just 260 active residential listings on the Association’s MLS System at the end of November. This was the lowest level for this time of year in more than 25 years, down 27.4 per cent from November 2016.
