London Ontario Real Estate Market

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

Found 49 blog entries about London Ontario Real Estate Market.

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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The Spring market is off to a good start with 964 homes exchanging hands in April 2015, up 15.3% over the previous April." This makes last month the second best April in the past decade – second only to April 2010," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. 776 detached homes sold last month, up 16.5%, along with 188 condos, up 10.6%. Average price, Year-to-Date, was also up 2.2% overall. The average price for a detached house Year-to-Date stood at $278,094, while the average price of a condo for the same period stood at $184,982.

Listings were also up 5.4%, while inventory – active listings end of period – were down a marginal 0.2%. "We still have a good supply of listings," says Vandergoot, "and our market

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Despite a March that both came in like a lion and out like a lion, the 2015 Spring market is off to a solid start with home sales totaling 769 last month.  "Compared to March 2014, the numbers are up a good deal," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. "However, given the impact of last year's Polar Vortex on home sales during the early months of 2014, comparing March 2014 to March 2015 doesn't give you a true picture. That being said, the five year average for home sales in March stands at 726, so we are, in fact, above the average for that time period."

Also up for March were listings by 10.7% - while inventory - active listings end of period – was down a marginal 1.1%. The market continues to be a

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Despite record-breaking cold, a total of 535 homes sold in February. "Given that the average number of February sales over the past decade stands at 489, I think it's fair to describe February 2015 as a good, solid month for home sales," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. He cautions against comparing February 2015's activity with that of February 2014. "It wasn't a typical year. The Polar Vortex had home sales in a deep freeze lockdown in January and February 2014. Comparing the two month-over-month would not only be counterproductive, but it would also give a false impression."

Also up for February were listings by 6.2% - while inventory - active listings end of period – was down a marginal 1.3%.

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2015 was off to a good start with the most home sales for a January since 2007, just prior to the Global Financial Meltdown – a total of 475. January was also the ninth straight month in a row in which area home sales outstripped those of the previous year. "Bear in mind that last year's Polar Vortex put January 2014's home sales in a bit of a deep freeze," cautions LSTAR President Carl Vandergoot. "That's part of the reason this month's figures look so robust."

Also up for January were listings by 3.8% - while inventory - active listings end of period – was down 5.6% for detached homes and up 7% for condos. The market continues balanced.

London's Sister City of St. Thomas also fared well last month. "Forty nine homes sold in January 2015, making it

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A total of 475 home sales took place in December, making the last month of 2014 not only the best December since 2006, but also the eighth straight month in a row in which area home sales outstripped those of the previous year:

  • May by 5%
  • June by 23.4%
  • July by 24.4%
  • August by 13.6%
  • September by 11.1%
  • October by 8.4%
  • November by 4.7%
  • December by 14.7%

"A total of 8,521 homes sold in 2014, the highest number since 2007, just prior to the global financial meltdown that impacted housing markets in both Canada and the United States," explains Carl Vandergoot, the 2015 President of the London and St. Thomas Association of REALTORS®. "It's been seven lean years, but our market is definitely showing signs of a strong, steady and

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According to Jim Holody, President of LSTAR, "Last month's statistics are just more proof that our local market continues to function at a very healthy pace." November 2014 was the 7th consecutive month in which area home sales outstripped those of the previous year:

  • in May by 5%
  • June by 23.4%
  • July by 24.4%
  • August by 13.6%
  • September by 11.1%
  • October by 8.4%
  • November by 4.7%

577 homes sold last month, making it the best November since 2010. "Year to date, 8,050 homes have exchanged hands in our jurisdiction," says Holody. "That's 7.4% more transactions than last year at this time." According to research by the Altus Group, one job is created for every three real estate transactions and approximately $55,000 in ancillary

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Election signs did not deter sales last month.

In fact, October 2014 proved to be the sixth consecutive month in which area home sales outpaced those of the previous year:

  • in May by 5%
  • June by 23.4%
  • July by 24.4%
  • August by 13.6%
  • September by 11.1%
  • October by 8.4%.

698 homes sold last month, making it the best October since 2007. "Year to date, 7,474 homes have exchanged hands in our jurisdiction," says Jim Holody, President of the London and St. Thomas Association of REALTORS®. "That's 7.6% more transactions than last year at this time." According to research by the Altus Group, one job is created for every real estate transaction and approximately $55,000 in ancillary spending is generated every time a house changes hands in

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