Wednesday, January 13, 2016

2015 was a great year for Real Estate in our area!

2015 proved to be not only the best year for real estate in the jurisdiction of the London and St. Thomas Association of REALTORS® since 2007, but also the second best year in the history of the Association overall. 9,366 area homes exchanged hands over the course of last year, just 59 units short of the 2007 total of 9,425. "The global financial meltdown that led to the collapse of the U.S. housing market back in 2008 negatively impacted Canadian markets as well," says Carl Vandergoot, LSTAR's 2015 President. "Eight long years later, we're pretty much back on track."
A total of 7,563 detached homes sold in 2015, up 9.2% over the previous year, while condo sales, at 1,803 were up 13%. Overall, sales were up 9.9% over 2014.
"We remain in a balanced market," says Vandergoot, "but, given the relatively low supply, now would be a good time for anyone thinking about listing their home to get in the game."
Real Estate sales the Grand Bend area was great for us as well, as we had our best year since 2004, that must of been a good year too! Now with both Mark and Garrett working together with me I am looking forward to another great year in 2016. January has already been very busy. It is hard to believe Mark has been working with me for 5 years now!