Home sales in Chatham-Kent bounced back in a big way last month after a bit of a dip earlier this fall.
A release from the Chatham-Kent Association of Realtors (CKAR) said 134 units sold in November, which is up 36.7 per cent compared to the same month last year. That total is also good enough for a new monthly sales record for November.
The increase follows a dip in October on a year-over-year basis and brings the total home sales for Chatham-Kent for this year to 1,259, just 10 sales shy of where the totals were through the first 11 months of 2019.
While the number of home sales jumped last month locally, so did the average price.
"With overall supply levels sitting at record lows and no relief of new listings in sight, the market remains very tight," said CKAR President Michael Gibbons. "It's no surprise then that average price has once again hit a new record high."
The average price of the homes that were sold in Chatham-Kent in November hit a record $332,416 -- that's up 37.1 per cent compared to the same month last year.
The number of homes on the market also jumped up last month with 130 new residential listings up for sale, marking the largest number of new listings added in the month of November in more than five years.
The homes that do hit the market are still selling quickly, too. There were only 117 active residential units in Chatham-Kent at the end of November, down 39.1 per cent compared to the end of November in 2019.
