June Sales Down Over Last Year

Sales last month were down 3.6% over those of the previous June with 654 detached homes exchanging hands and 141 condos. This represents a 1.4% decrease in sales for detached homes and a 13.0 % decrease in condo sales. However, "Year-to-date sales are still slightly down over last year by 5.4%," points out Doug Pedlar , President of London and St. Thomas Association of REALTORS® (LSTAR), adding that, over all, they are turning out to be closely in line with 2012.
Pedlar continues, "New listings were down 5.5%, which could point to a slight tightening up of the market, as does the fact that listings end of period – or inventory – was up 2.9% . For now and for the foreseeable future, we expect our market will continue to be a balanced one – good for buyers and sellers alike."

The City of St. Thomas experienced a small dip last month, with 53 homes exchanging hands in that City over the course of June and an average sale price Year to Date of $190,567, which is the same as 2012.
The average price for a home in LSTAR's jurisdiction Year to Date stands at $246,959, an increase of 3.4%. The average price for a detached home over that same period stands at $262,113, up 3.0%, while the average price for a condo stands at $177,894 up 3.8 % from January of this year.

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