August Stats for London and St. Thomas, Ontario, Canada

By
Real Estate Agent with Realty Executives Elite Ltd.

August stabilizing

Last month, 747 homes exchanged hands in the jurisdiction of the London and St.

Thomas Association of REALTORS® (LSTAR), a 2 per-cent decrease over August

2008. This includes 600 detached homes (down 1.2 per cent from August 2008) and 147

condos (down 5.2 per cent from August 2008). Year-to-date 4,619 detached homes and

1,069 condos have been sold - down 8.4 per cent and 18.2 per cent respectively

compared to the same period in 2008.

Sales in St. Thomas doing well - 75 homes exchanged hands in August 2009, a 50 per

cent increase over August 2008. The average residential price year-to-date in St. Thomas

is $183,571 a 1.2 per-cent decrease over last year.

Poulopoulos says that both the number of sales and average price are stabilizing with

sales only down 2% over last year and average price up .3% year-to-date from 2008.

This is good news.

"Homebuyers recognize that interest rates and prices have bottomed out, and are taking

advantage of excellent affordability before prices and interest rates move higher," says

Canadian Real Estate Association (CREA) President, Dale Ripplinger.

"Home sales through the MLS® systems in July provide clear evidence that sentiment

about making major purchases continues to improve," says CREA's Chief Economist

Gregory Klump. "Activity may level out over the rest of the year as home prices and

mortgage lending interest rates creep higher."

The number of sales and average prices year-to-date for August 2009 were:

Type Units Sold Average Price $$ Change from YTD 2008

Total Detached 4619 $225,751 .7% decrease

Total Condo 1069 $156,815 2.3% increase

Total Residential 5688 $212,795 .3% increase

The average residential price year-to-date for August 2009 is $212,795. The following

table compares year-end average home prices in LSTAR's jurisdiction over the past 10

years:

Year Prices

2008 $210,888

2007 $202,256

2006 $188,942

2005 $178,058

2004 $166,138

2003 $152,586

2002 $142,106

2001 $136,636

2000 $134,593

1999 $131,899

August residential sales year-to-date over the last 10 years:

Year Sales

2009 5688

2008 6350

2007 7009

2006 6494

2005 6401

2004 6567

2003 5913

2002 5968

2001 5209

2000 4804

The best-selling house style in LSTAR's jurisdiction for the month of August was the

two-storey, followed by the bungalow, the ranch, and the townhouse condo:

House Style Units Sold Average Price

2 storey 172 $292,569

Bungalow 143 $171,548

Ranch 83 $248,957

Townhouse Condo 76 $152,183

Homes in LSTAR's jurisdiction continue to maintain their affordability compared to

other major Ontario and Canadian centres. According to the Canadian Real Estate

Association's Residential MLS Report for July 2009 (the most current available), the

average price year-to-date for:

􀂃 London and St. Thomas was $213,932;

􀂃 Calgary was $379,192;

􀂃 Durham Region was $274,585;

􀂃 Edmonton was $320,164;

􀂃 Hamilton-Burlington and District was $285,858;

􀂃 Kitchener-Waterloo was $273,895;

􀂃 Ottawa was $299,961;

􀂃 St. Catharines & District was $218,287;

􀂃 Toronto was $386,329; and

􀂃 Greater Vancouver was $568,021.

The London and St. Thomas Association of REALTORS® is a professional organization

committed to serving the real estate needs of the community and to providing its

Members with the services and education required to promote excellence, knowledge and

a high standard of ethics and business practices. The Association's jurisdiction includes

Middlesex and Elgin Counties, home to nearly 500,000 residents. The Multiple Listing

Service® is a cooperative marketing system used only by Canada's real estate boards and

associations to ensure maximum exposure of properties for sale. All of LSTAR's listings

may be found on the public website at www.REALTOR

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Rainer
215,982
Marcia Hawken
Naples Luxury Specialist
Downing-Frye Realty, Inc.

Interesting numbers.  I used to live in TO and like to follow the Canadian market.  Naples is Ontario South in winter!!!! I have 164 Canadians in my community of Pelican Bay alone!

September 28, 2009 05:34 AM
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Rainer
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Jennifer Zammit

A.C.C.I.
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