Saturday, March 18, 2017

Ontario home sales post record February amid ongoing supply shortage

Residential sales are up 8.9% in Feb 2017 compared to last year.

New listings in Ontario numbered 22,090 units in Feb 2017 a decrease of 11.3% from last year.

The Provincial average price of a home rose 24.% from last year.

There were just 1.7 months of inventory at the end of Feb 2017.

These are sales for all of Ontario.

Saturday, February 4, 2017

The Best January Sales Ever!

The London and St Thomas Association of REALTORS® (LSTAR) announced another milestone for residential sales across the region, with the best January results since LSTAR began tracking sales data in 1978. A total of 574 homes were sold in January, an increase of 26.2% over last January.

"We're off to a tremendous start this year with our best January ever," said Jim Smith, LSTAR 2017 President. "The trend of high demand and low supply continues, with January experiencing a 12.2% decrease in the number of listings compared to the previous year. Those thinking of selling may want to consider maximizing the current market conditions."

In January, a total of 434 detached homes were sold, an increase of 15.1 % over the previous year, while there were 140 condominium sales, up 79.5% from 2016. The average sales price was $285,418, up 0.5% from the previous month.

"We saw a huge boost in condominium sales, with almost double the number of units sold in 2017," Smith said. "It represents very robust activity happening in the condominium market, again with less listings available compared to 2016."

Thursday, February 2, 2017

Just posted our SOLDS for 2016

We have just made an Album of our sold listings and this link will take you to our Facebook page. Please follow our page for updates and like us!

Tuesday, January 10, 2017

2016 Marks Milestone Year for Real Estate

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 Stacey Evoy, LSTAR 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% from 2015.

"We saw a 10.4% decrease in the number of home listings, with a total of 14,867 listings for the year," Evoy said. "This illustrates the high demand and low supply, with inventory (what we call Active Listings End of Period) down 39.2%."

Just like the Real Estate Board the Grand Bend area was a great year for sales in the area.

Saturday, December 3, 2016

Best November EVER!

722 homes sold in November 2016, 15.3% over last November and the best November since the London and St. Thomas Association of REALTORS® (LSTAR) began keeping track in 1978. "To get to the runner up for best November ever, you have to go back twenty years to 1996, when 673 homes exchanged hands," says Stacey Evoy, LSTAR's 2016 President, noting that 2016 continues to break records, scoring the best September, April, June, August, October, and now November – six months in total. Year to Date, sales are up 9.8%.

Listings were down 12.5% in November, while inventory – as represented by the number of active listings at month end - was down 36.6%. "If you have thoughts of listing your home, now is a perfect time to do so. As we have seen throughout 2016, we have a high demand with a low supply. Timing is perfect," says Evoy.
Just as President Stacey says it is the perfect time to sell your home or cottage and with the snow not flying here yet it is still not too late!

Tuesday, October 4, 2016

Best September EVER

866 homes sold in September 2016 with a break down of 716 detached homes and 150 condos, showing 3.1% over last September and the best September since the London and St. Thomas Association of REALTORS® (LSTAR) began systematically tracking sales back in 1978. "2016 has been a year of breaking records," says Stacey Evoy, LSTAR President. "Not only has this past month been the best September ever, we've also had record breaking months of April, June and August."