1 December 2021
Category Uncategorised
1 December 2021,
 Off
The number of homes sold through the MLS® System of the Chatham-Kent Association of REALTORS® totaled 133 units in December 2021. This was an advance of 54.7% from December 2020 and was a new sales record for the month of December.
Home sales were 57.6% above the five-year average and 84% above the 10-year average for the month of December.
On an annual basis, home sales totaled a record 1,839 units over the course of 2021. This was up sharply by 35% from the same period in 2020.
“2021 has been a remarkable year for real estate in our region” said Amber Pinsonneault, 2022 President of the Chatham-Kent Association of REALTORS®. “December MLS® home sales remained very strong to end the year. However, even though the number of newly listed properties was above average for this time of year, it was still not enough to keep pace with the unrelenting demand we have been experiencing. Consequently, overall inventory has dropped to just below the lowest level on record. The multiple factors of strong demand and low supply has continued to keep prices elevated near their all-time highs. As always, we will be monitoring our local market for any developing trends that may provide insight into what to expect in 2022.”
The average price of homes sold in December 2021 was $436,070, an increase of 26.6% from December 2020.
The more comprehensive annual average price was $419,865, advancing 34.9% from all of 2020.
The dollar value of all home sales in December 2021 was $58 million, jumping 95.8% from the same month in 2020. This was also a new record for the month of December.
The number of new listings saw a gain of 14.7% (11 listings) from December 2020. There were 86 new residential listings in December 2021.
New listings were 16.8% above the five-year average and 10.1% above the 10-year average for the month of December.
Active residential listings numbered 72 units on the market at the end of December, down sharply by 18.2% from the end of December 2020. Active listings haven’t been this low in the month of December in three decades.
Active listings were 48.4% below the five-year average and 74.1% below the 10-year average for the month of December.
Months of inventory numbered 0.5 at the end of December 2021, down from the 1 months recorded at the end of December 2020 and below the long-run average of 4.8 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.

 

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