London Ontario Real Estate
MARCH SALES DOWN SLIGHTLY
In March, local real estate sales decreased 4.8% over those of previous year, with 623 detached homes and 147 condos exchanging hands over the course of the month. Detached were slightly down by 3.7% and condos by 13.3%. “So, while last month’s figures are nothing to get excited about, they are also nothing to be concerned about. Slow and steady wins the race” says Barb Whitney, President of the London and St. Thomas Association of REALTORS®.
“The number of active listings at month’s end was up by 2.5% – our inventory or supply of available homes. This is the kind of market REALTORS® like to see – lots of activity. Sellers see that properties are moving at a good pace and buyers have a wide array of choices. In other words, our local market continues to be balanced.” says President Barb Whitney.
50 homes sold in London’s Sister City of St. Thomas in March – 17 fewer units than the previous year. The average price for a home in St. Thomas stands at $186,571 Year to Date – up 9.1 % since January 2012.
The average price for a home in LSTAR’s jurisdiction Year to Date climbed at $232,757 – an increase of 3.4% over that of January 2012. The average price for a detached home over that same period rised at $247,784 – up 4.9 % , while the average price for a condo stood at $169,962 –up .5% from January.
AS PUBLISHED IN THE LSTAR e-STATS - March 2012
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"We had an enormous response to our advertised home. The results were outstanding! Not only did our house sell, but with 2 offers!" Walter and Lisa |
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