Strong Homes Sales in February
52 homes sold in February, up 21.9% over February 2015. “That makes last month the best February since 2008!” “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 Carpenter. “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%.
The best-selling house style in LSTAR’s jurisdiction for February2016 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 $289,572 up 2.6%, while the average price for a condo over the same period stood at $191,940, up 1.1%. The average price of all homes sold through LSTAR’s MLS® Year to Date stood at $271,018 up 2.5%