LONDON & AREA MARKET UPDATE

June Sales Best in Seven Years

981 homes exchanged hands last month, up 23.4% from June 2013.  Detached homes were up 22.3%, condos were up 28.4% and listings were up 18.6%. An increase in listings is good news because it means our market remains a balanced one. In addition, the Year-to-Date sales total 4,337, up 2.8%. Average sales prices were also up: $278,493 for a detached home, up 1%; and $197,026 for a condo, up 1.6%. "A healthy real estate market is one in which you see small, incremental increases in house prices over time,

As for St. Thomas, June proved to be the best month for that City in five years. Sales were up 54.7% (82 units sold in 2014 compared to 53 in 2013) and the average house price for that City at Month End stood at $211,784, up 3.5%

Steven Manicom

Steven Manicom

Sales Representative
CENTURY 21 First Canadian Corp., Brokerage*
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