Home sales in Chatham-Kent continue to set new records.
The monthly rise in the prices of local homes continued its upward trend last month.
The Chatham-Kent Association of Realtors reports a record 175 units changed hands in October, a 35.7% increase from October of 2020.
The agency also established a record for total value of property sold at $77. 6 million. That’s a whopping jump of 84 per cent over last October, and is the highest value month in the municipality’s history.
So far this year, 1,553 units have sold and that’s up 36% over the first 10 months of 2020.
“The blistering pace of sales activity continued unabated in October, with home sales reaching not only the highest October on record but also the second highest level of any month in history,” Laura Tourangeau, President of the Chatham-Kent Association of Realtors says. “New listings are not matching the level of demand out there among prospective homebuyers, so overall inventories remain near record lows.”
The average sale price was $443,538, up 36% from last year.