Special offer

March Homes Sales Down Slightly

By
Real Estate Agent

London and area home sales down slightly from a year ago

Selling Your HomeThe London St. Thomas Association of Realtors® (LSTAR) reported that home sales declined in March by 4.8 % compared to March 2011.

A total of 770 homes were sold by Realtors® in March.  Condo sales continue to be much softer than a year ago, down by 13.3% from last March to 147. 623 detached homes were dealt, lower by 3.7% than March 2011.

The number of active listings available at the end of March was up by 2.5%, compared to a year ago.

Average prices are still slightly higher than where they started 2012 at, despite the lower sales and the higher number of active listings. Our market can still be described as “balanced”

Balanced Market: In a balanced market, the number of homes for sale satisfies the demand. Characteristics of this market include houses selling within a reasonable time period, sellers accepting reasonable offers and stabilized prices. The atmosphere is usually more relaxed.

 A graphical analysis of the London Ontario real estate market can be found here.

Comments (0)