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London and St. Thomas Association of Realtors
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| Market Activity | A total of 714 homes sold in July of 2010 compared to 904 in July 2009 – down 21%. We are still ahead year-to-date over 2009 by 8.3%. The decline in market activity forecast by the Canadian Real Estate Association (CREA) and Canada Mortgage and Housing Corporation (CMHC) continued to dampen real estate sales for a second consecutive month. "This is not just our local market," explains Joe Hough, Past President of the London and St. Thomas Association of REALTORS®, "it’s nationwide". | |
| Type of Market | Balanced | |
| Listings | Active detached home listings end of period were up 11.9%. Active condo listings end of period were up 10.0 %. | |
| Average Price for July 2010 (July 2010 compared with July 2009) | All detached homes in LSTAR’s jurisdiction | $232,725 up 0.2% ($232,266) |
| All condos in LSTAR’s jurisdiction | $174,659 up 7.1% ($163,108) | |
| All two-storeys in LSTAR’s jurisdiction | $289,618 down 0.6% ($291,323) | |
| All bungalows in LSTAR’s jurisdiction | $162,407 down 11% ($182,458) | |
| All ranches in LSTAR’s jurisdiction | $274,978 up 9.5% ($251,022) | |
| All townhouse condos in LSTAR’s jurisdiction | $153,490 up 10.1% ($139,364) | |
| Most Popular in July | Two-storeys, then bungalows, then ranches, then condo townhouses. | |
| Affordability | According to the Canadian Real Estate Association’s Major Market MLS® Statistical Survey, the average price year-to-date for:
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| Market Factors | One of the indicators of a healthy real estate market is a modest gain in average house price over time. "The London CMA is remarkably stable in terms of price," says Hough. "We are consistently right-priced." This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers. | |
Please refer to the London MLS Housing Price Detail Report for a detailed statistical breakdown of one year housing price changes
If your looking for my information on Agents and London Ontario Real Estate check out my Blog: London Ontario Homes and Real Estate for Sale.
Prior Month MLS Housing Market Reports
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
October 2009
September 2009
August 2009