London & St. Thomas Real Estate Market Statistics for Month Ending April 2013

London & St. Thomas Real Estate Market Statistics for Month Ending April 2013

Better late than never for those who appreciate their stats timely. I will do better with the May numbers.

This is a compilation of statistics that interest me.  These London & St. Thomas Real Estate Market Statistics for Month Ending April 2013 are for detached homes in LSTAR's jurisdiction. Anyone curious about more specific area statistics may contact me.

                                           April 2013                  Last Month                   April 2012  

Detached Units Sold:              720                             495                              716                                           

Detached Units Active:           2963                          2628                            2208                                         (end of period)

April Absorbtion Rate:            4.11 Months               5.3 Months                  3.08 Months                             

Average Price:                       $262,996                   $264,527                       $266,457

These numbers were obtained from London-St. Thomas Association of Realtors.

My thoughts:

London & St. Thomas Real Estate Market Statistics for Month Ending April 2013 show a nice rebound that many Realtors found to be unusually slow for a March. Perhaps the lousy spring weather kept buyers and sellers from acting. Nice that the average price remained stable in March. I suspect that the lower average price in April was due to lowered expectations created during March.  My business saw a promising start to the year. My expectations for March higher than what happened. I was busy showing homes and talking to sellers about their plans. No one seemed in a hurry to list or to write offers. 495 brave sellers got an average $1,531 (compared to 720 the next month) more for their homes for their decision to sell their homes over March.

Except for the March numbers, look at the classic demonstration of the relationship between time and money. Generally, we say in Real Estate that the longer a a home is listed for sale the lower the end sale price will be. April 2013 average price is lower as absorption rate is longer and active listings inventory is higher too.

These are my favourite quick stats for London & St. Thomas Real Estate Market Statistics for Month Ending April 2013.

Visit my "Online Store" at http://www.sellinglondonon.com/

Don't be afraid to register - I respect your privacy and won't pester you- just enjoy my site!

by Daniela Schmidt