In the first month of 2011, 428 homes exchanged hands, down 9.3% from the previous year and I personally feel the record snowfall and low temperatures had a lot to do with it.

Year Sale

   January sales included 347 detached homes (down 8% from the previous year) and 81 condos (down 14.7% from the previous year).

   "Average home prices have increased slightly year over year, their increase from one month to the next is far more modest and more fully represents the level and pace of actual appreciation," says the president of our local real estate board. (LSTAR) "If you look at the difference between average price in December 2010 and January 2011, you'll see that we're actually down 1.5%." Compared to the last month of 2010 the average price for a home is down 2.6% and the average price of a condo is up 5.4%.

  January brought mixed, but mostly good news for St. Thomas. The good news: 44 homes exchanged hands in London's Sister City (up 18.9% from the previous year for an average $163,720. This was slightly down from the previous year.   This month, as in previous months and years, homes in LSTAR's jurisdiction maintain their affordability compared to other major Ontario and Canadian centers. According to the CREA's National MLS® Report for December 2010, the average price year‐to‐date for:

• Vancouver ‐‐ $705,522

• Victoria ‐‐ $500,073

• Toronto ‐‐$442,863

• Calgary ‐‐ $394,949

• Edmonton ‐‐ $321,361

• Ottawa ‐‐ $324,771

• Hamilton ‐‐$341,983

• Kitchener‐Waterloo ‐‐ $320,957

• St. Catharines ‐‐ $240,942

    For further stats such as neighbourhoods, what style of home, commercial and income properties, go here.

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

 

1 Comments on What Real Estate Sold like in January in London & St.Thomas

FEB
06
2011
868,771 Points 5 Featured Posts

Ty,

This seems to be a consistent trend across the country. Down just a bit in January. If the buyers are still there, then they will return in February.

Brian
10:55am • #1


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