Record Real Estate Sales for London Ontario

Published 03 May 16 10:42 AM | Ty Lacroix 

 April 2016 was an excellent month for real estate in London Ontario with 1,068 being sold through our MLS system, the best April ever!

  Sold by Ty Lacroix in London Ontario

Year-to-Date in London Ontario and area, sales were up 10.7% over 2015.

 1,650 homes were listed for sale in April, 2016, down 14.2%, and inventory (homes for sale) – was down 23.3%.

  According to Canada Mortgage and Housing Corporation, (CMHC), current market conditions are starting to resemble the seller's market conditions in 2003-2007, when quarterly prices were up 6 to 9% from the same period a year earlier.

 St. Thomas also had an outstanding April with 86 homes sold, compared to the 77 sold the previous April. The average price of a home in St. Thomas so far in 2016 stands at $219,560, up 1.3%.

 The best-selling house style in LSTAR's, (London St. Thomas Association of Realtors) jurisdiction for April 2016 was the two-storey, and then the bungalow, followed by ranches, then townhouse condominiums, and then high rise apartment condos.

 The average price for a detached home in London and area was $290,773 up 3%, while the average price for a condo over the same period stood at $196,903, up 3.7%. The average price of all homes sold through LSTAR's MLS® Year-to-Date stood at $272,663, up 3.1%.

House Style

Units Sold

Average Price

2 storey

277

$370,330

Bungalow

187

$210,838

Ranch

117

$353,256

Townhouse

91

$174,127

High rise apartment. condo

50

$182,306


 The following table, based on data taken from CREA's  (Canadian Real Estate Association) MLS® Report for March 2016 (the latest information available), demonstrates how homes in our jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.


City

Average Sale Price

Vancouver

$1,052,737

Fraser Valley

$702,230

Toronto

$675,125

Victoria

$553,277

Hamilton-Burlington

$471,832

Calgary

$458,685

Ottawa

$376,910

Edmonton

$373,885

Montreal

$351,761

Saskatoon

$350,450

Kitchener-Waterloo

$347,535

Regina

$301,547

London St. Thomas

$272,6631

Canada

$487,077


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