News

The London and St. Thomas Association of REALTORS® (LSTAR) celebrated Christmas in 2012 with donations to its principal beneficiaries.

A total of 8,020 homes traded hands in 2012, 28 fewer units than the 8,048 homes sold in 2011. "That's a difference of only 0.3%," says Barb Whitney, 2012 President of LSTAR, "very marginal and just what we expected from our market, which has proven itself once again to be steady, reliable and balanced. As far as LSTAR goes, 2012 has been a very satisfactory year for real estate in our jurisdiction."

On December 19, 2012, the London and St Thomas Association of REALTORS® presented Brian Hughes, Youth Opportunities Unlimited's (YOU) President, with cheques totaling $27,000 to be used towards the purchase of needed kitchen equipment and an expansion of both YOU's kitchen and its food preparation area.

Sales of detached homes dipped 15.9% in November 2012, with 417 homes exchanging hands.

"During the third quarter of this year we have seen a cooling of the local real estate market", says 2012 LSTAR President, Barb Whitney.

Did you know that it can take up to 50 donors to help a car accident victim and up to 8 donors a week to help someone with leukemia? That's a lot of blood! And the demand for blood and blood products of all blood types just keeps growing. In fact, by 2015 we're going to need about 500,000 more Canadians to become donors to meet the demand. That's why LSTAR has joined 580 partner organizations across Ontario as a Partner for Life with the Canadian Blood Services.

Sales stabilized in October 2012, with 624 homes exchanging hands over the course of the month. Altogether 502 detached homes sold, 1.4 % up from the previous year, and 122 condos, up a resounding 38.6 % from October 2011. Altogether sales were up 7% from the previous year.

The real estate market cooled in September 2012, with only 596 homes exchanging hands over the course of the month. Altogether 493 detached homes sold, down 16.3% from September 2011, along with 103 condos, down 8.8%. Total sales were down 15.1%.

Sales were down somewhat in August 2012, with 723 homes exchanging hands over the course of the month – forty less than the previous August. Altogether, 584 detached homes sold - 5.8% down, and 139 condos - 2.8% down from August 2011. “Traditionally the dog days of summer can be a little slow,” says Barb Whitney, President of the London and St. Thomas Association of REALTORS®.