Listings Rise, Sales Fall!

After a strong September, October real estate sales in the London area dropped by 15%, while sales across Canada dropped by 14%. The number of sales so far in 2008 is down 7.9%, according to the London St. Thomas Association of Realtors, compared to 2007, which was a record year. The average price of a home is $212,034 in the London area, up 5% from last year with the market here returning to a more normal market. The number of listings are up from last month and up 28% over last years numbers. So it seems to be a great time to buy with more selection and better prices...just like there was a sale going on!