Chatham-Kent new home listings are starting to keep pace with demand in November
|The number of homes sold through the MLS® System of the Chatham-Kent Association of REALTORS® totaled 154 units in November 2021. This was a gain of 14.9% from November 2020. This was also a new sales record for the month of November.|
|Home sales were 27.7% above the five-year average and 50.5% above the 10-year average for the month of November.|
|On a year-to-date basis, home sales totaled a record 1,707 units over the first 11 months of the year. This was up sharply by 33.8% from the same period in 2020.|
|“Home sales jumped to the highest November in history on the back of an ongoing resurgence in new listings. With just one month left to go we’ve already set a new annual sales record in 2021,” said Laura Tourangeau, President of the Chatham-Kent Association of REALTORS®. “One important difference between our market and many others in Southern Ontario is that we’ve seen a much-needed return of new listings, which has helped to satiate the unrelenting levels of demand out there among home buyers. Make no mistake though, listings are currently just keeping pace with demand and overall supply levels are still trending at historical lows.”|
|The average price of homes sold in November 2021 was $448,595, a signficant increase of 34.9% from November 2020.|
|The more comprehensive year-to-date average price was $418,520, advancing 35.4% from the first 11 months of 2020.