London Ontario Real Estate Agent
116 Wharncliffe Road South London Ontario N6J 2K3 - 519 472 4949
London Ontario

London Ontario Real Estate

MARKET SLOW TO WARM UP

MARCH 3, 2014

A total of 498 homes sold in February 2014, down 13.5% from the previous year. "The first couple of months of the year are traditionally slow months for real estate," says Jim Holody, the 2014 President of the London and St. Thomas Association of REALTORS®. "Factor in some of the coldest temperatures in recent memory and one winter storm system after another and you've got a market in deep freeze. Fortunately, the only thing wrong with our market is the weather and that's about to change. Buyers who want to get ahead of the game would do well to get out in front of the crowd. The Spring market is going to start to kick in this month and I think we're going to see some pent-up demand start to change the equation."
Listings for the month were up a marginal 0.2%, while inventory – active listings end of period – were up 4.3%. "In other words, there's lots of supply," says Holody.
The City of St. Thomas saw 42 homes exchange hands in February, 8 short of the previous February. Listings were up 11.4% and the average price for a home in St. Thomas, Year To Date, stands at $210,695, up 11% compared to December 31, 2013.
The average price of a detached home in LSTAR'S jurisdiction in February 2014 stood at $260,411, down 0.8% from January 2014, while the price of a condo rose 5.9% to $179,387. The average price for all homes sold in the LSTAR's jurisdiction in February 2014 was $243,002 down 1.3% from the first month of 2014.
The following chart, based on data taken from CREA's National MLS® Report for January 2014 (the latest information available), demonstrates how homes in LSTAR's jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centers.

AS PUBLISHED IN THE LSTAR e-STATS - MARCH 2014

 

Find your London Ontario Home

Type of home you want

Use CTRL Key to make multiple selections

Area of London

Home Values London Ontario

"We had an enormous response to our advertised home. The results were outstanding! Not only did our house sell, but with 2 offers!" Walter and Lisa

Featured London Homes

Some of the best values that can be found in the London area.

Homes for Sale London Ontario Region
Investment Opportunity- SOLD

Homes for Sale London Ontario Region
Excellent Investment Property!

Homes for Sale London Ontario Region
Upgraded with the finest- SOLD

These homes can also be seen on the London Ontairo MLS®

 

 
Copyright © 2008 All Rights Reserved Vision Network Real Estate Ltd, Brokerage, London Ontario.

Web Design & Hosting by NTech