HOmes Sales Ease in February

Last month, 480 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), including 382 detached homes (down 30.2% from February 2008) and 98 condos (down 30% from February 2008). Year to date, 626 detached homes and 158 condos have been sold – down 32.3% and 30.4% respectively compared to the same period in 2008. "Although February sales are down 30%, January sales were down 35%," says Joe Hough, LSTAR President. "And the average residential price is down only 2.4%, compared with 2.8% last month. I think that’s encouraging and shows it’s a great time to buy, especially since active listings are up about 23%. There is a great variety of choice available." There is a good selection of Homes and Cottages on the market right now in the Grand Bend area as well. Interest rates are at an all time low and places are priced right!