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These state pages or hyper-local pages provide content directly related to a specific geographical location.
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Home sales in London Ontario overall in September 2011 were up 19.2% over the previous year, with 589 detached homes and 113 condos exchanging hands.
As of September 30, 2011 , year-to-date sales are down only a very modest 0.8% compared to this time last year.
Listings were also up 7.7% in September, and year-to-date listings are up 9% over last year.
The average sale price for a detached home year-to-date now stands at $244,307, 5.3% up from January 2011, while the average price for a condo was $182,758, down 3.4% up from January 2011.
Year-to-date the average price for a home (including condo sales) in is $232,511, 4% up from January 2011.
The following table, based on data taken from CREA’s National MLS® Report for August 2011 (the latest information available), demonstrates how homes in LSTAR’s (London & St.Thomas Association of Realtors) jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres.
Metropolitan Centre Average House Price Vancouver $661,306 Toronto $462,612 Victoria $457,483 Calgary $418,281
Hamilton-Burlington $336,805 Edmonton $329,867 Ottawa $337,315 Kitchener-Waterloo $308,595 Regina $279,288 Saskatoon $299,924 St. Catharines $250,220 Halifax-Dartmouth $252,278 Newfoundland & Labrador $234,339 London St. Thomas $233,578*
A breakdown of London and area sales
House Style Units Sold Average Price 2 storey 163 $323,693 Bungalow 141 $181,777 Ranch 82 $282,799 Townhouse Condo 59 $152,039
What does all this mean?
London and St. Thomas historically has been a balanced market as the above numbers show and we do not experience the peaks & valleys that other major cities have or are experiencing.
That being said, properties in London still need to be marketed properly and correctly to sell; and all buyers should be aware of neighbourhood quirks and positives.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.