News

The Spring market continued to gain traction in May, with 941 homes sales, up 3.1%. "The market appears to be rallying after a somewhat slow start to the year," says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. "Condos were a little soft (down 6.2%) but detached homes were up by 5.1%." He adds, "We're also pleased to note that new listings are up 8.2% and inventory – the number of active listings end of period - is up 3.8%. Those figures indicate that we remain in a balanced market overall – good news for buyers and sellers alike."

The Spring market gained more traction in April, with 720 detached homes exchanging hands last month, an increase of four units over last April, and 144 condos, down by twenty units. “Altogether April sales were down 1.8% from April of the previous year,” says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. “However, given the slow start to the year, 864 homes being sold in a single month represents a definite improvement and is right in line with previous Aprils over the past decade.”

The London and St. Thomas Association of REALTORS® held its 2012 Annual General Meeting yesterday, April 23, 2013, at the London Convention Centre.

The Board of Directors of LSTAR congratulate LSTAR Members Eavan Travers and Greg Harris, recipients along with their Board of Directors of the CCIM Chapter of Excellence Award.

The Spring Market was off to a slow start in March with home sales down 20.5%. The cooling off impacted detached homes and condos almost equally, with 495 detached homes exchanging hands last month – down 20.5% - and 117 condos – down 20.4%. Altogether a total of 612 homes sold in March 2013.

The Board of Directors of LSTAR is pleased to announce that the Association has won the 2012 Ontario Real Estate Association (OREA) Quality of Life Award. Like other Ontario real estate association/boards, LSTAR adheres to a Quality of Life philosophy, supporting growth that fosters economic vitality, provides housing opportunities, respects the environment and builds good communities and safe neighbourhoods. The award goes to the Association that has most actively worked over the course of a year to improve the Quality of Life in its community.

The Board of Directors of LSTAR congratulates Doug Pedlar, its 2013 President, on having won the prestigious 2012 Ontario Real Estate Association (OREA) Volunteer Leader Award. This award recognizes an individual who has played an important role or addressed a major issue or challenge facing his or her association over the past year.

Although home sales exceeded those of January 2013 by 138 units, 2013 continued to be slow out of the gate in February, with 448 detached homes exchanging hands – down 10.4% from February 2012 – and 128 condos – down 6.6%. Altogether sales were down 9.6% from the previous year.

2012 shaped up to be a balanced year for the local real estate market. We saw slightly fewer sales than we did in 2011, but also fewer listings. Watch this video report of the 2012 President of the London and St. Thomas Association of REALTORS®, Barb Whitney, as she analyzes the market activity during her year in office.