Market Recovery Continues With Record Sales of Real Estate in London Ontario for December

By
Real Estate Broker Owner with Envelope Real Estate Brokerage Inc

Market Recovery Continues With Record Sales of Real Estate in London Ontario for December    Last month, (December 2009) 438 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), a 55.9-per-cent increase over December 2008!  

This was the best December sales ever in the history of LSTAR and listings continued to rise by 12.8%, an indicator that speaks of the strong recovery in our jurisdiction

  This month's sales  in London include 353 detached homes (up 61.9 per cent from December 2008) and 85 condos (up 34.9 per cent from December 2008).

   Year to date, 6561 detached homes and 1509 condos have been sold- down 1.4 per cent and down 11.4 per cent respectively compared to the same period in 2008.   Year to date, sales are down 3.42 per cent overall compared to 2008. When you consider we started January 2009 down 35% this is good news.  

   Sales in St. Thomas also saw gains - 37 homes exchanged hands in December 2009, a 60-per-cent increase over December 2008.

   The average residential price for the month of December was up to $178,132, a 3.3 per-cent increase over November and finishing for the year with an YTD average price of $182.450 which is down only by 2.6%.

     The average residential price in the Association's jurisdiction for the month of December is up 12.3 per cent to $215, 235    This is another good indicator that our market is recovering.

  What Does This All Mean? If you are a purchaser, prices are not going down and we are experiencing a sellers market. If you are a home owner, now is a great time to list your home. There is a pent up demand, interest rates are low and it will be 3-5 months before brand new homes are built.   For area neighbourhood prices and trends for your area, I have all the neighbourhoods in London broken down into price, styles, days on market and hundreds of other details.  

 Another reason to call your ‘Knowledge' source for reliable service and action.

Posted by

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the house to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Ontario Middlesex County London
Groups:
Canada, eh
Ontario Real Estate and Information
Tags:
real estate for sale in london ontario
london ontario real estate
condos for sale london ontario
homes for sale london ontario

Comments 5 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
894,244
Brian Madigan
LL.B., Broker
RE/MAX West Realty Inc., Brokerage (Toronto)

Ty,

This makes a good time to do business.

If this blog is appearing on your website, I think you meant "down", not "done".

 

January 09, 2010 07:51 AM
Rainmaker
333,351
Ty Lacroix
Envelope Real Estate Brokerage Inc

Thank you Brian and yes, a very good time to do business

Ty

January 09, 2010 08:52 AM
Ambassador
405,376
Jo-Anne Smith, Sales Representative
Oakville, Burlington and Mississauga Region Real E
Your Choice Realty Corp, Brokerage

Ty,

Sounds like anyone who is considering selling should call you now and get their property on the market....

it's very similar to the Oakville-Burlington area.

Jo

January 09, 2010 09:46 AM
Rainmaker
333,351
Ty Lacroix
Envelope Real Estate Brokerage Inc

Hi Jo. it would be wise but as with most, some sit on the fence until it tips over or they act after it is too late.

Ty

January 09, 2010 01:04 PM
Anonymous #5
Anonymous
Rene

We are optimistic for a stronger 2010...our company saw a huge jump in sales in 2009, but

it was mostly inthe lower end of the market based on the tax credit.For more,  Bedford NH real estate market outlook.

February 04, 2010 06:40 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
333,351

Ty Lacroix

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the house to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Real Estate Broker of Record & Owner