Home sales in Chatham-Kent have broken a few more records.
The Chatham-Kent Association of Realtors (CKAR) is reporting 133 homes were sold in December, which is new sales record for the month and a 54.7 per cent increase from December of 2020.
The association also said home sales last month were 57.6 per cent above the 5-year average and 84 per cent above the 10-year average for the month of December. CKAR reported home sales last month totaled $58 million, another record for the month of December. The average price of a home sold in Chatham-Kent last month was $436,070, a jump of 26.6 per cent from December 2020.
Realtors in Chatham-Kent also sold a record 1,839 homes in 2021, an increase of 35 per cent from the previous year.
"2021 has been a remarkable year for real estate in our region," said CKAR President Amber Pinsonneault. "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."
There were 86 new residential listings last month, a slight gain from December 2020, according to CKAR.
Pinsonneault said overall inventory has dropped to just below the lowest level on record. She said the strong demand and low supply has continued to keep prices near their all-time highs and the association will be keeping a close eye on the local market for any developing trends that may give some insight into what's to come this year.