Home Sales in London Ontario Highest in 10 Years!

Published 04 April 16 11:50 AM | Ty Lacroix 

  860 homes sold in March 2016 in London Ontario and area, up 11.8% over March 2015, making it the best March since 2006.  Home sales in London Ontario are up 10.8% this year.

     Home sales in London Ontario

  1,579 homes were listed in March 2016, down 1.7%, and properties listed for sale were down 16.6%, making this a seller’s market.

 St. Thomas did quite well with 75 homes being sold, compared to the 58 sold the previous March. The average price of a home in St. Thomas so far in 2016 stands at $219,822, up 1.4%.

  The best-selling house style in our MLS area was the two-storey house, then the bungalow or ranches, then townhouse condominiums and high rise apartment condos. 

  The average price for a detached home in London and area was $291,281 up 3.2%, while the average price for a condo in London was $192,619, up 1.5%.

House Style

Units Sold

Average Price

2 storey

197

$379,551

Bungalow

158

$228,156

Ranch

104

$334,200

Townhouse

81

$160,962

High rise apt. condo

50

$171,994

The following table, based on data taken from CREA’s  (Canadian Real Estate Association) National MLS® Report for February 2016 (the latest information available), demonstrates how homes in THE London St. Thomas Association of Realtors (LSTAR) jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

City

Average Sale Price

Vancouver

$1,052,871

Fraser Valley

$673,678

Toronto

$678,386

Victoria

$542,615

Calgary

$461,982

Hamilton-Burlington

$461,385

Edmonton

$364,201

Ottawa

$356,324

Montreal

$350,220

Kitchener-Waterloo

$338,121

Saskatoon

$333,519

Regina

$313,490

London St. Thomas

$271,9201

Canada

$483,957


  So. what does this all mean? For buyers, get your ducks in a row

,get your ducks in a row

get market education and shop wisely and for home sellers, price it right, show it right and if you put yourself in a buyers' shoes, you will do well!

put yourself in somebody elses shoes

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