Strong Homes Sales in February
652 homes sold in February, up 21.9% over February 2015. "That makes last month the best February since 2008!" says Stacey Evoy, 2016 President of the London and St. Thomas Association of REALTORS®, adding, by way of caveat, "This being a Leap Year, however, we had an extra day in which 39 sales took place, so, in order to make a meaningful comparison with February 2015, we have to factor that in." Year-to-Date home sales are up 9.6%.
1,146 homes were listed in February, down 2.7%, and Active Listings End of Period – or inventory – was down 19.1%. "According to the Canada Mortgage and Housing Corporation's forecast, sales are expected to grow more than new listings in 2016," says Evoy. "If you're thinking of putting your home on the market, this would be a great time to do that."
55 homes sold in St. Thomas in February, up 1.9% over last year. The average price of a home in St. Thomas so far in 2016 stands at $209,849 down 3.2%.