1 November 2021
Category Uncategorised
1 November 2021,
 Off
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.

The dollar value of all home sales in November 2021 was $69.1 million, a substantial gain of 55.1% from the same month in 2020. This was also a new record for the month of November.
The number of new listings increased 28.8% from November 2020. There were 170 new residential listings in November 2021. This was the largest number of new listings added in the month of November in two decades.
New listings were 34.7% above the five-year average and 29.2% above the 10-year average for the month of November.
Active residential listings numbered 148 units on the market at the end of November, up by 24.4% from the end of November 2020.
Active listings were 19% below the five-year average and 56.8% below the 10-year average for the month of November.
Months of inventory numbered 1 at the end of November 2021, up from the 0.9 months recorded at the end of November 2020 and below the long-run average of 4 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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