The following article was written March 2, 2016 by Steve Randell from the REP (Real Estate Professionl)
There was a 21.9 per cent surge in home sales in the London and St Thomas market. In February there were 652 sales, the highest for the month since 2008. The additional day on the 29th saw 39 sales. Inventory was impacted by a 2.7 per cent drop in new listings while active listings were down 19.1 per cent.
Detached home prices averaged $289,572, up 2.7 per cent year-to-date while condo prices gained 1.1 per cent to average $191,940.
With the Canada Mortgage and Housing Corp. estimating more sales than listings in the market, the president of the London and St Thomas Association of Realtors, Stacey Evoy commented: "If you're thinking of putting your home on the market, this would be a great time to do that."