Market Report for April 2009
Market Activity
Last month, 804 homes exchanged hands in the jurisdiction of the London and
St. Thomas Association of REALTORS® (LSTAR), including 666 detached
homes (up 1.8% from April 2008) and 138 condos (down 26.6% from April
2008). Year to date, 1,840 detached homes and 414 condos have been sold -
down 15.1% and 26.9% respectively compared to the same period in 2008.
Type of Market
Balanced
Listings
listings end of period were up 7.9%.
Average Price for April 2009
(April 2009 compared with April
2008)
All detached homes in LSTAR's jurisdiction $219,817, down 2.3%
($224,905)
All condos in LSTAR's jurisdiction $155,394, up 3.6% ($149,963)
All two-storeys in LSTAR's jurisdiction $282,491, down 3.3%
($292,275)
All bungalows in LSTAR's jurisdiction $164,790, down 6.3%
($175,790)
All ranches in LSTAR's jurisdiction $239,448, down 1.3%
($242,722)
All townhouse condos in LSTAR's
jurisdiction
$131,731, down 10.7%
($147,558)
Most Popular in April Affordability
According to the Canadian Real Estate Association's Residential MLS Report
for March 2009 (the most current available), the average price year-to-date for:
London and St. Thomas was $208,632;
Calgary was $369,219;
Durham Region was $262,374;
Edmonton was $310,849;
Hamilton-Burlington and District was $264,187;
Kitchener-Waterloo was $251,030;
Ottawa was $284,118;
St. Catharines & District was $202,452;
Toronto was $358,036; and
Greater Vancouver was $535,552.
Market Factors
says: "Looking back to economic recessions in the early 1980s and 1990s,
national resale housing activity bottomed out before the job market or economy
did ... It will take time for ample supplies of new and existing homes to be
drawn down, but demand appears to be stabilizing."
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