Housing values from the 80s

Market Values in Canada show that Real Estate Investments have been a good choice over the past 25 years. Now is the time to buy with the low mortgage rates and even lower prices!

London and Area Market Report for January

Active detached home listings for January were up 35.5% with condo listings up 13.7%, so there is a lot of activity for people listing their homes. With the larger supply of listings a more balanced market is happening. Most popular homes being listed were Bungalows followed by 2 stories then Condos. The average price for London is $212,092 making this area one of the most affordable places in Canada, especially when you compare to the average price in Vancouver at $593,000.

January Home Sales Slip

Last month, 305 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), including 245 detached homes (down 35% from January 2008) and 60 condos(down 31% from January 2008). “The decline in home sales last month is directly attributable to two factors: a drop in consumer confidence due to the down turn in the stock market, not to mention a government in apparent crisis and whole heck of a lot of snow and cold weather,” says Joe Hough, LSTAR President, “A bad month does not mean a bad year and our January 2008 numbers are only the third lowest for January in a decade where real estate sales broke record after record. When the dust on the global economic crisis settles . . . and the snow stops flying, what we’re going to see in London is a more balanced market, with more opportunities for buyers than there have been over the last several years.”