2016 - Best Year on Record!
The London and St Thomas Association of REALTORS® (LSTAR) announced 2016 was a historic year for real estate, with residential sales surpassing 10,000 for the first time. In 2016, a total of 10,193 homes were sold, up 8.8% from 2015.
"Overall, it was an incredible year for residential real estate in our region," said LSTAR's 2016 president. "Throughout 2016, we observed high demand with low supply that contributed to a very robust marketplace. Six months of the year saw their best sales since LSTAR has been tracking data, which speaks to why the industry thrived in 2016."
In 2016, a total of 8,260 detached homes were sold, an increase of 9.2% over the previous year, while there were 1,933 condominium sales, up 7.2%…