Best July Sales Since 2007

july home sales finish strong

 

990 homes exchanged hands in July 2016, making last month the best July ever with the exception of July 2007, which set the all-time record for July with 1,009 sales. “These kinds of numbers, month after month after month, speak to the vibrancy of our current market.” 807 detached homes sold last month along with 183 condos. Year-to-Date sales are up 8.2%.

Listings, on the other hand, were down 22.6% this month and Active Listings End of Period – or inventory - was down 28.2%. “It’s no exaggeration to say that supply is extremely tight right now,” says Carpenter. “That makes this an incredibly good time to list.”

St. Thomas also had its best July since 2007, when record-keeping on London’s Sister City began. 97 homes sold last month, up 3.2% over last year. The average price for a home in St. Thomas Year-to-Date stands at $226,717, up 4.6%.

The best-selling house style in LSTAR’s jurisdiction for July 2016 was the two-storey, then the bungalow, followed by ranches, then townhouse condominiums, then high rise apartment condos. The average price for a detached home Year-to-Date stood at $295,769 up 4.8%, while the average price for a condo over the same period stood at $200,292, up 5.5%. The average price of all homes sold through LSTAR’s MLS® Year-to-Date stood at $277,660 up 5%.

House Style Units Sold Average Price
2 storey 240 $391,057
Bungalow 178 $209,404
Ranch 127 $351,411
Townhouse 82 $188,745
High rise apt. condo 39 $153,923
 

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Jeffrey Carpenter

Jeffrey Carpenter

Sales Representative
CENTURY 21 First Canadian Corp., Brokerage*
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