Thursday, June 15, 2017

Home Sales Soar to a New Record in May

The London and St. Thomas Association of REALTORS® (LSTAR) announced a total of 1,539 homes were sold in May, an increase of 33.4% over the same period last year. This represents the best results ever for May, and the highest monthly home sales total ever recorded, since LSTAR began tracking data in 1978.

"We're experiencing a very strong marketplace, with the fifth consecutive month of record sales," said Jim Smith, LSTAR President. "REALTORS® are still seeing multiple offer scenarios and interest from outside the region. When you factor in the region's low unemployment rate and continued job growth, the economy is firing on all cylinders. This year, year-to-date home sales are already 27% ahead of 2016."

In May, a total of 1,209 detached homes were sold, an increase of 28.6% over the previous year, while there were 330 condominium sales, up 54.2% from 2016. The average sales price across London and St. Thomas was $344,815 down 0.6% from the previous month. The average year-to-date sales price was $330,890 up 18.6% from the 2016 average home price of $279,057.

Tuesday, May 9, 2017

Home Sales Achieve Another Monthly Record in April

The London and St Thomas Association of REALTORS® (LSTAR) announced another record month for residential sales in April, with a total of 1,220 homes sold, an increase of 14.2% over the same period last year. This represents the best results ever for April, since LSTAR began tracking sales data in 1978.

"Since the beginning of the year, every month has achieved record sales. After the first four months, we're about 25 percent ahead in home sales compared to 2016," said Jim Smith, LSTAR President. "It just shows how desirable the region is, when you consider affordability, accessibility and lifestyle.
 
In April, a total of 971 detached homes were sold, an increase of 11.7% over the previous year, while there were 249 condominium sales, up 25.1% from 2016. The average sales price was $347,062 up 5.4% from the previous month. The average year-to-date sales price was $325,286 up 16.6% from 2016 average home price of $279,057.

"With this robust marketplace, it's a fantastic time to get in touch with a REALTOR®," Smith said. "With an increase in multiple offer situations, interest from outside of London and St. Thomas, and the regulatory requirements, a REALTOR® can help you manage the process every step of the way."

Wednesday, April 26, 2017

Ontario home sales post record March




Unit Sales
Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 25,062 units in March 2017, up 20.8% from a year earlier.

Newly Listed Units
New listings on the MLS® Systems of real estate boards in Ontario numbered 35,539 units in March 2017, an increase of 4.9% from a year earlier.


Average House Price
The provincial average price for homes sold in March 2017 was a record $672,584 rising 29.5% from a year earlier.

Tuesday, April 4, 2017

March Sales were great for the London & St. Thomas Association of Realtors


The London and St Thomas Association of REALTORS® (LSTAR) announced another record month for residential sales in March, with a total of 1,242 homes sold, an increase of 44% over the same period last year. This represents the best results ever for March since LSTAR began tracking sales data in 1978.

"We continue to experience a very robust marketplace, with some very strong year-to-date sales as well," said Jim Smith, LSTAR 2017 President. "After the first quarter of 2017, year-to-date sales are up by 30.4%, compared to 2016. We've been telling consumers who are thinking about putting their home on the market that current conditions are very encouraging. You have to go back to 2004, the only other instance when sales surpassed 1,000 homes in March."

In March, a total of 1,006 detached homes were sold, an increase of 46.9% over the previous year, while there were 236 condominium sales, up 34.9% from 2016. The average sales price was $329,218 - up 6.9% from the previous month. In looking at the first quarter of 2017, the average sales price was $314,847, up 12.8% from the first quarter of 2016.

"March started to see mild, spring-like temperatures in weather, and this could also have been a factor helping the month's sales," Smith said. "We continue to see the trend of low supply and high demand, with the number of listings down 7.9% compared to a year ago. Now more than ever is an ideal time to get in touch with a REALTOR®."

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!

https://www.facebook.com/The-Pedlar-Team-Remax-Bluewater-Realty-Grand-Bend-293355147471/?hc_ref=PAGES_TIMELINE

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.