Sales last month were up 5.6% over those of the previous July, with 630 detached homes exchanging hands and 158 condos. This represents a 1.6% increase in sales of detached homes and an increase of 25.4% in condo sales. "Condos have been moving a little slowly over the last several months, so it was good to see them rebound so nicely in July," says Doug Pedlar, President of London and St. Thomas Association of REALTORS® (LSTAR). "As for detached homes, the market for those continued strong and steady last month - almost as if this year's Spring market extended into the summer months." He adds, "New listings were up 6.9% and listings end of period – or inventory – was up 0.9%, indicating that, now and for the foreseeable future, we can expect our market to continue to be a balanced one – good for buyers and sellers alike."
The City of St. Thomas continued to perform well in July … with 78 homes exchanging hands in that City over the course of July – up 13% - and an average sale price Year to Date of $195,398.
The average price for a home in LSTAR's jurisdiction Year to Date stands at $247,274, an increase of 3.5%. The average price for a detached home over that same period stands at $262,627, up 3.2%, while the average price for a condo stands at $178,848, up 4.3 % from January of this year.