News

Home sales in November were up 7.6% overall, with 551 homes exchanging hands over the past month. “We always like to see an increase in sales,” says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. “It's important, however, to bear in mind that last November's sales were comparatively low, which means that what we are seeing now may be more like a market correction than anything else.” The average number of sales for November between 2008 and 2012 was 535.

Overall sales in LSTAR's jurisdiction were up 3.2% in October, with a total of 644 homes exchanging hands in LSTAR's jurisdiction. Detached homes were up 3.6%, while condos were up 1.6%. "This is just the sort of market we like to see," says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. "Very much business as usual." This brings our year to date only down by 2.6% over 2012.

A new special event organized by LSTAR and sponsored by Dalmar Motors has raised over $3,000 for Youth Opportunities Unlimited – the REALTORS® Kool Wheels Charity Bike and Auto Show, which took place on June 22, 2013. LSTAR President-Elect and Kool Wheels Chair Jim Holody was on hand to present YOU's Executive Director Steve Cordes and YOU Board Member and fellow REALTOR® Dan Grantham with a cheque in the amount of $3,149.23.

Overall sales were up 3% in September, with a total of 614 homes exchanging hands in LSTAR's jurisdiction. Detached homes were up 5.3%, while condos were down 7.8%. "To put this into perspective, overall sales were a little down in September 2012", says Doug Pedlar, President of the London and St. Thomas Association of REALTORS®. "This September was a little more like business as usual."

Overall sales were down 3.7% last month, compared with those of the previous August. However, when you look at year-to date we are only down 2% year over year. Condos, however, were up 2.2%. “Condo sales have been slow over the past year or so, with the exception of last month, when they were up 25.4%,” says Doug Pedlar, President of London and St. Thomas Association of REALTORS® (LSTAR). “Obviously that part of the market has been playing catch-up in July and August. That's good to see. Condos are a significant part of our housing stock and the market is strongest when all of its stock is moving well.” 554 detached homes sold in August 2013, while 142 condos exchanged hands.

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."

LSTAR is proud to announce that the recipients of the 2013 LSTAR Scholarship are Madison Walker, the daughter of LSTAR Member Carolyn Baines, and Jess Hodgson, the son of LSTAR Member Paula Hodgson.

Sales last month were down 3.6% over those of the previous June with 654 detached homes exchanging hands and 141 condos. This represents a 1.4% decrease in sales for detached homes and a 13.0 % decrease in condo sales.

The London and St. Thomas Association of REALTORS® invites the public to its first annual REALTORS® Kool Wheels Charity Bike and Auto Show, sponsored by Dalmar Motors.