London Ontario Real Estate Market

Real estate news, info, and statistics for the London Ontario real estate market.

Found 47 blog entries about London Ontario Real Estate Market.

Best April Ever!

A resounding 1,068 homes exchanged hands in April 2016, up 10.8% over April 2015. "This makes last month the best April on record," says Stacey Evoy, President of LSTAR. "The only other April to crack the one thousand mark was April 2010, when 1,017 homes sold." Year-to-Date sales are up 10.7% over last year.

1,650 homes were listed in April, down 14.2%, and Active Listings End of Period – or inventory – was down 23.3%. "According to Canada Mortgage and Housing Corporation's Senior Market Analyst Anthony Passarelli, current market conditions are starting to resemble the seller's market conditions in 2003-2007, when quarterly prices were up 6 to 9% from the same period a year earlier," says Evoy. "Our relatively low inventory of

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860 homes sold in March, up 11.8% over March 2015, making last month the best March since 2006 – a good two years before the Global Financial Meltdown caused markets across North America to falter. “March 2016 may have come in like a lamb, says Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®, “but, as far as home sales go, it went out like a lion.” Year-to-Date, sales are up 10.8%.

1,579 homes were listed in March, down 1.7%, and Active Listings End of Period – or inventory – was down 16.6%. “Canada Mortgage and Housing Corporation predicts that 2016 will see more sales than listings,” says Evoy. “If you are thinking about listing your house, this is the kind of market you’ll want to take advantage of.”

St. Thomas

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Strong Homes Sales in February

652 homes sold in February, up 21.9% over February 2015. "That makes last month the best February since 2008!" says Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®, adding, by way of caveat, "This being a Leap Year, however, we had an extra day in which 39 sales took place, so, in order to make a meaningful comparison with February 2015, we have to factor that in." Year-to-Date home sales are up 9.6%.

1,146 homes were listed in February, down 2.7%, and Active Listings End of Period – or inventory – was down 19.1%. "According to the Canada Mortgage and Housing Corporation's forecast, sales are expected to grow more than new listings in 2016," says Evoy. "If you're

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Market Holds Steady

455 homes exchanged hands in the first month of 2016; this represented only -0.8% less for Detached and down -17.9% for Condos, for a total of -4.2% over the previous January. "You have to keep in mind that last January was the second best January Sales since 2007, so this month's stats show our market is steady" says Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®.

1,053 properties were listed in January, down 11.6%, and Active Listings End of Period – or inventory – was also down 16.0%. "Our market continues to be balanced," says Evoy. "However, if you're thinking of selling, it might be an idea to list ahead of the spring rush."

January was a slow month for real estate in St. Thomas, with

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Real Estate Sales Hold Steady

October 2015 homes sales came in just a hair lower than those of October 2014, the best October since 2007. A total of 695 homes exchanged hands last month, just three shy of October 2014, which saw 698 sales. 577 detached homes sold in October, up a marginal 0.9%, while condo sales dropped 6.3%. Total sales were down a very negligible 0.4%. "Clearly we've hit the mark and are holding steady," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. Year-to-date sales are up over 2014 by 9.8%.

Listings were down for detached homes in October – 14.2% for detached homes and 7.5% for condos. Active Listings End or Period (inventory) was also down 11.4% for detached homes and 0.2% for condos.

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Not only did 2015 see a best June ever for real estate sales in the jurisdiction of the London and St Thomas Association of REALTORS®, now it’s seen the best September ever! A total of 840 homes sold in September 2015, up 23.2% overall from September 2014. "Year-to-Date we’ve clocked 7,513 transactions," says Carl Vandergoot, LSTAR President. "That's an increase of 10.8%."

Listings were down 2.7% for detached homes, but up 9.4% for condos last month. Active listings end of period – inventory – were down 9.5% for detached homes and up 4.6% for condos. "This September 150 condos were sold. Given that the five year average for September condo sales is 137, last month's figures are pretty much in line with what we expected," says Vandergoot. "It's the

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August 2015 was yet another month in which home sales in the jurisdiction of the London and St. Thomas Association of REALTORS® were the best they've been since 2007's Global Financial Meltdown. A total of 864 homes sold in August 2015, up 9.2% overall from August 2014. "2015 is shaping up to be a really good year," says Carl Vandergoot. "So far we're up a solid 9.4% from 2014."

Listings were up a very marginal 0.2% for detached homes and down 6.3% for condos last month. Active listings end of period - inventory - were also down, 3.3%. "Over the last few months we've started to see some tightening up of supply," says Vandergoot. "It's too early to suggest that we're going into a Sellers market, but, with supply shrinking, it's definitely a good time to

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A total of 934 homes sold in July, down 4.7% overall from July 2014. "To put these numbers in perspective, July 2014 was the best July since 2007 with 980 sales. That's only 46 more sales than took place last month," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. "Compare this month's sales to those of July 2013 (788), July 2012 (746) and July 2011 (742) and it's clear that July 2015 finished strong." Year-to-Date, sales are up 9.5% over last year.

Listings were down 2.7%, while inventory – active listings end of period – were also down, 3.9%. "These percentages aren't dramatic," says Vandergoot, "but they do point to a tightening supply, making now a smart time to list."

The market in London's Sister City of

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With 1,109 home sales, June 2015 breaks the record for the best June in the history of the London and St. Thomas Association of REALTORS®. "For the second best June on record, you’d have to go all the way back to June 2006 when there were 1,011 sales," says Carl Vandergoot, LSTAR President. He adds, "We could tell that June was going to be a banner month, but we didn’t expect it to be quite this robust.” 892 detached homes sold in June, up 11.5%, while 217 condos exchanged hands, up 19.9%. Total sales for the month were up 13% over June 2014. “Job growth, stable mortgage rates and affordable home prices have all played a part in making this market so strong," says Vandergoot.
Listings were up 6.8% overall, while inventory – active listings end of period –

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The local housing market continued strong in May 2015, with total sales up 6.8% over the previous year. "In fact, May 2015 is the best May on record  since 2007," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. He adds, "We can thank job growth, stable mortgage rates and  affordable home prices for what is turning out to be a very robust market in our area." 861 detached homes and 194 condos sold last month, when a total of 1,055 homes exchanged hands.

Listings were down 3.7% and inventory – active listings end of period – were also down 2.7%. "Our supply of listings is still good and we would still characterize our market as balanced," says Vandergoot. "But, if supply continues to tighten up, we might find

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