Last month, 946 homes exchanged hands in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), a 4.5-per-cent increase over June 2008. Year to date, 3,296 detached homes have been sold – down 11 per cent compared to the same period in 2008.
“We are very pleased to see a 4.5 per cent increase in sales,” says Joe Hough, LSTAR President. “2008 was a record-breaking year, so it is just outstanding to see a gain for June 2009 over June 2008. Sales may be down year-to-date, but the numbers we are seeing are still very positive.”
Hough says the average residential price is also improving. “Year-to-date for June 2009, the total residential average price is up 1.5% to $211,583, compared with a decline of 1.2% in May, 1.8% in April, 2.7% in March, 2.4% in February and 2.8% in January.”