New 2026 Bungalow Near Hwy 401 with Vaulted Ceilings

Property details for 56 Lantern Lane, Chatham

Type: Residential
Style: Bungalow, Ranch
Bedrooms: 3
Bathrooms: 2
Living Area: 1,900 square feet
Lot Size: 53.97 X 124.67
Stories: 1
Parking: Attached Garage, Garage, Inside Entry
Heating: Forced air, Natural gas, Furnace
Cooling: Central air conditioning
Exterior: Brick, Stone, Other
Ownership: Freehold

You know that new-home smell? This place has it. It's a 2026 custom build on a 53.97 x 124.67 lot in southwest Chatham, just minutes from Highway 401 and a short walk to St. Teresa of Calcutta Catholic School. The main floor is around 1,900 sq. ft. with three bedrooms and two full baths, including a primary suite with a walk-in closet and ensuite. The vaulted great room opens to a kitchen with solid wood cabinets, quartz counters, and a walk-in pantry. Everything inside feels tidy and ready for you. The basement is unfinished but has higher-than-standard ceilings and a rough-in for a bathroom. So you could finish it later without too much hassle. The exterior is James Hardie and stone, with a double-car garage and an 18-foot-wide garage door. There's a covered concrete patio out back. Right now there are 22 active listings nearby, with a median price around $473,825, so at $689,000 it's on the higher end, but you're paying for new construction and the location. Sobeys is 1.8 km away, Tim Hortons is 1.7 km, and if you want a bite out, Kelsey's is 1.2 km. This is a solid choice if you want a move-in-ready home with no immediate work. And the tankless water heater is owned, not rented. Big lot, new build, good schools. If I were you, I'd take a look.

About 56 Lantern Lane, Chatham — Property Score

Hot Market

Score: 67/100

Value

Priced 15% above area median of $599,000 based on 35 comparable properties nearby 48

$363/sqft - 3.5% below the $376/sqft area median 75

Stable pricing - no price changes since original listing date 50

Size

1,900 sqft - 15% more space than similarly priced homes (1,650 sqft median) 72

3 bedrooms - 1 fewer than similarly priced 4-bedroom homes nearby 48

2 bathrooms - 1 fewer than similarly priced properties nearby 48

6,728 sqft lot - a generous lot for the area 78

Location

$57K median household income - below the Canadian average of $70K 59

81% of residents hold postsecondary credentials - a highly educated neighbourhood 88

62% homeownership rate - a balanced mix of owners and renters 73

80% of residents commute under 30 minutes - excellent commuter accessibility 94

382/km² population density - a rural or semi-rural setting 55

Market

Just listed - area average is 43 days on market 100

+9.6% median price change over 1 month - rising prices in the area 98

32 months of housing supply - 256 active listings with 8 sold last month (buyer's market) 40

Features

efficient gas forced air heating 80

Central air conditioning - whole-home cooling 90

Built in 2026 (0 years old) - brand new construction, newer than the area average (1969) 95

No premium extras like pool, waterfront, or view 50

Investment

38% renter population - moderate rental market 76

Quality

Condition

Listing

48 photos provided - 37% more than the area average of 35 photos 92

4 of 7 key property details provided (57%) - some key property details missing 67

* This property score is an approximate estimate based on publicly available data, nearby comparable listings, and automated analysis. Scores are for informational purposes only and should not be relied upon as professional appraisals or investment advice. Actual property values may vary. We recommend consulting a licensed real estate professional for accurate assessments.