London area Real Estate Stats For February, 2009

In February, 480 homes exchanged hands in the London region, including 382 detached homes (down 30.2% from February 2008) and 98 condos (down 30% from February 2008). Since Feb 28,2009 , 626 detached homes and 158 condos have been sold - down 32.3% and 30.4% respectively compared to the same period in 2008.

       St. Thomas sales held steady in February. Units sold in St. Thomas declined by just 1.9%, and compared to last February, the average home price rose to $177,413 from $171,297. But year-to-date, the average price is $180,823, a slight decline from last year's $181,795.

 There is no doubt the market is not as active as it was last year, but there are certainly buyers and sellers in the Canadian residential market.

 Year-to-date for 2009, the number of sales and average prices in LSTAR's jurisdiction were:

 The best-selling house style in the London area for the month of February was the two-storey, followed by the bungalow, the ranch and the townhouse condo:

 Homes in our area continue to maintain their affordability compared to other major Ontario and Canadian centres. According to the Canadian Real Estate Association's Residential MLS Report for January 2009 (the most current available), the average price year-to-date for:

 􀂃 London and St. Thomas was $205,919;

 􀂃 Calgary was $362,143;

 􀂃 Durham Region was $257,095;

 􀂃 Edmonton was $317,049;

 􀂃 Hamilton-Burlington and District was $264,549;

 􀂃 Kitchener-Waterloo was $251,469;

 􀂃 Ottawa was $290,930;