Market Updates for August 2015

September 1, 2015 August 2015 was yet another month in which home sales in the jurisdiction of the London and St. Thomas Association of REALTORS® were the best they've been since 2007's Global Financial Meltdown. A total of 864 homes sold in August 2015, up 9.2% overall from August 2014. "2015 is shaping up to be a really good year," says Carl Vandergoot. "So far we're up a solid 9.4% from 2014." Listings were up a very marginal 0.2% for detached homes and down 6.3% for condos last month. Active listings end of period - inventory - were also down, 3.3%. "Over the last few months we've started to see some tightening up of supply," says Vandergoot. "It's too early to suggest that we're going into a Sellers market, but, with supply shrinking, it's definitely a good time to list." August was also a banner month for London's Sister City of St. Thomas, which, with 81 sales, also had its best August since 2007. The average price of a home in St. Thomas Year-to-Date stands at $218,733, up 9.4%.

Source: LSTAR:


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