The average house price including houses and condos in London Ontario has increased 3.4% to $246,959 since January 2013. The average house price increased 3% to $262,113 and the average condo price increased 3.8% to $177,894. It is still a balanced market for the number of listings versus buyers as this will continue for the remainder of the year. The number of sales are lower than last year but are still very good with the help of low interest rates.
The St.Thomas market is the same as last year with the average house price of $190,567. Just think of if you lived out in Vancouver with the average house price of over $700,000 and Toronto just over $500,000!
Our unemployment rate in London is still high but it's still one of the best areas to retire in as it is very safe with lots of cultural activities.