Only 80 condos were sold in November, down 30% from last November. Sales of detached homes were down slightly by 1.8%
Below is a snapshot of November sales throughout LSTAR’s jurisdiction
For a graphical market report of London home sales
The London and St. Thomas Association of REALTORS® (LSTAR) is one of Canada’s fifteen largest real estate associations, representing 1,500 REALTORS® working in Middlesex and Elgin Counties, a trading area of 500,000 residents. LSTAR adheres to a Quality of Life philosophy, supporting growth that fosters economic vitality, provides housing opportunities, respects the environment and builds good communities and safe neighbourhoods and is a proud participant in the REALTORS Care Foundation’s Every REALTOR™ Campaign. As members of the Canadian Real Estate Association, LSTAR members may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The Association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members.
For the second consecutive month, the number of homes sold is less than the previous month while year to date average prices are tracking slightly higher than 2010.
This is another indication that the real estate market in White Oaks and the London area is “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.
For months now it seems that reporting townhouse sales results for White Oaks has been kind of.... a downer. Low sales numbers and falling average prices do not make a positive report.
August changed that with the strongest showing of the year.
The August home sales statistics for London Ontario and area are in.
The London-St.Thomas Association of Realtors (LSTAR) reported that sales activity as well as listing activity were both on the rise in August.
Signs of a balanced market.
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.
"This means that homes may stay on the market a little longer than they have previously, but the good news is that things are definitely moving.”
Read more about London’s Real Estate Market
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