News

Not only did 2015 see a best June ever for real estate sales in the jurisdiction of the London and St Thomas Association of REALTORS®, now it's seen the best September ever! A total of 840 homes sold in September 2015, up 23.2% overall from September 2014. "Year-to-Date we've clocked 7,513 transactions," says Carl Vandergoot, LSTAR President. "That's an increase of 10.8%."

August 2015 was yet another month in which home sales in the jurisdiction of the London and St. Thomas Association of REALTORS® were the best they've been since 2007's Global Financial Meltdown. A total of 864 homes sold in August 2015, up 9.2% overall from August 2014. "2015 is shaping up to be a really good year," says Carl Vandergoot. "So far we're up a solid 9.4% from 2014."

A total of 934 homes sold in July, down 4.7% overall from July 2014. "To put these numbers in perspective, July 2014 was the best July since 2007 with 980 sales. That's only 46 more sales than took place last month," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. "Compare this month's sales to those of July 2013 (788), July 2012 (746) and July 2011 (742) and it's clear that July 2015 finished strong." Year-to-Date, sales are up 9.5% over last year.

The London and St Thomas Association of REALTORS® is proud to announce the recipients of this year's LSTAR Scholarship. They are: Sophia Koladich, the granddaughter of LSTAR Member Judy Siskind, Courtney Simpson, the daughter of LSTAR Member Brian Simpson, Jack Phoenix, the son of LSTAR Member David Phoenix, and Sam Peifer-Dawson, the son of LSTAR Member Tracey Peifer.

With 1,109 home sales, June 2015 breaks the record for the best June in the history of the London and St. Thomas Association of REALTORS®. "For the second best June on record, you'd have to go all the way back to June 2006 when there were 1,011 sales," says Carl Vandergoot, LSTAR President. He adds, "We could tell that June was going to be a banner month, but we didn't expect it to be quite this robust.” 892 detached homes sold in June, up 11.5%, while 217 condos exchanged hands, up 19.9%. Total sales for the month were up 13% over June 2014. “Job growth, stable mortgage rates and affordable home prices have all played a part in making this market so strong," says Vandergoot. Listings were up 6.8% overall, while inventory – active listings end of period – were down 5.5%. "In other words, things are moving," says Vandergoot. "That means that now is a great time for Buyers and Sellers to get into the market – when it is both balanced and dynamic."

The local housing market continued strong in May 2015, with total sales up 6.8% over the previous year. "In fact, May 2015 is the best May on record since 2007," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. He adds, "We can thank job growth, stable mortgage rates and affordable home prices for what is turning out to be a very robust market in our area." 861 detached homes and 194 condos sold last month, when a total of 1,055 homes exchanged hands.

The Spring market is off to a good start with 964 homes exchanging hands in April 2015, up 15.3% over the previous April." This makes last month the second best April in the past decade – second only to April 2010," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. 776 detached homes sold last month, up 16.5%, along with 188 condos, up 10.6%. Average price, Year-to-Date, was also up 2.2% overall. The average price for a detached house Year-to-Date stood at $278,094, while the average price of a condo for the same period stood at $184,982.

The local home sales in the first quarter of 2015 point to a solid year in real estate for Middlesex and Elgin Counties. Over January, February and March a total of 1,771 homes exchanged hands, up 14.7% from last year's first quarter sales.

The London and St. Thomas Association of REALTORS® held its 2014 Annual General Meeting on April 21, 2015 at the London Convention Centre.