File photo courtesy of © Can Stock Photo Inc. / FeverpitchedFile photo courtesy of © Can Stock Photo Inc. / Feverpitched
Chatham

Record Home Sales For Chatham-Kent

Chatham-Kent home sales set a new record in November.

The Chatham-Kent Association of Realtors says 133 units were sold last month. That's a 9.9% jump from last November and a new record for November.

The association is also reporting that a total of 1,377 units have been sold over the first 11 months of this year, which is just 0.6% or nine sales off the 2016 record for the same period. Kristi Wiilder, association president, says November is the fourth monthly record for home sales this year, joining February, May and October.

"Regardless of how the December numbers shake out, the last two years have been the strongest the local housing market has ever seen," she says. "With inventories trending at all-time lows, the average price will be up by about 15% this year.”

Wiilder says there were just two months of inventory or 260 homes for sale at the end of November. That's down 27.4% from November of 2016 and the lowest level for this time of year in more than 25 years.

The average price of homes sold in November was $190,212, which is up 17.9% from November of 2016. The year-to-date average price was $185,642, which rose 14.5% from the first 11 months of last year.

One hundred and seventeen new homes were built in November, which is down 5.6% from the same month in 2016. The association says this was the lowest level for the month in nearly three decades.

Read More Local Stories